Forex cryptocurrency Do Kwon and his companion are effectively being held back from being extradited to South Korea because they were charged with forgery in Montenegro.
Kwon, 31, and Han Chang-joon, a friend, were charged with falsifying personal records. The custody of Kwon, whose full name is Kwon Do-hyung, and Han in Montenegro has also been requested, a prosecutor’s office representative from the Balkan nation’s capital of Podgorica confirmed in an email to Bloomberg.
A Montenegro court must still determine whether to grant the request for an extension of their imprisonment even if it has been submitted.
According to Montenegro’s justice minister Marko Kovac, those who are detected falsifying personal records might receive a maximum prison sentence of five years.
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According to reports, persons who are incarcerated for document forgery often only spend up to six months behind bars.
On March 23, over a year after going into hiding following the plunge crash of his now-defunct cryptocurrency TerraUSD and its companion coin, Luna, in May 2022, Kwon was apprehended at Podgorica Airport in Montenegro.
The collapse of the two cryptocurrencies resulted in a $42 billion loss for investors worldwide.
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