- South Korean authorities seek Kwon’s extradition
- Most of the evidence is stored in the scammer’s home country
Controversial co-founder and CEO of Terraform Labs Do Kwon risks get 40 years in prison. Also, the South Korean authorities are seeking the extradition of Kwon. Prosecutor Dang Sun Han, who is overseeing the investigation, believes that his return to his homeland would best help the victims of the collapse of the Terra tokens.
In an interview, the prosecutor stated that South Korea is the place where most of the crimes Kwon is charged with took place. Given the nature of this incident, he believes that an investigation in his homeland would be the most effective way to restore justice.
If found guilty, Kwon could face an unprecedented sentence in South Korea. The report says he could potentially exceed the 40-year sentence assigned to Seoul-based hedge fund manager Kim Jae Hyun.
The scandalous crypto-businessman was arrested on March 23 in the capital of Montenegro, the city of Podgorica, with forged documents. He was subsequently charged with fraud, conspiracy and market manipulation. He filed an appeal, but to no avail. Now he faces 40 years in prison if found guilty on all charges.