Both the U.S. and South Korea have requested the extradition of Do Kwon, the founder of TerraForm Labs, from Montenegro, according to Justice Minister Marko Kovac.
Kwon was arrested last week for forgery of identification documents. Kovac stated that extradition proceedings will only take place after Kwon has served his prison sentence in Montenegro.
“Primacy is given to the court proceedings led in Montenegro,” Kovac said, “If they are convicted for the criminal offense of falsifying identification documents, only after they served their prison sentence is it expected that they will be extradited.”
Kwon and his business associate Han Chang Joon are wanted by South Korea following the collapse of the terraUSD (UST) stablecoin last year. The U.S. claims jurisdiction over Kwon due to allegations of fraud against U.S. investors by Kwon and TerraForm Labs. Kovac also confirmed that the U.S. and South Korea have requested Kwon's laptops and other devices.
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