untitled design

Do Kwon faces 40 years in prison

The Terra co-founder could spend most of his life behind bars – first in his native South Korea and then in the US, according to prosecutors in both countries.

Both countries are now seeking the extradition of Do Kwon on charges related to the collapse of Terra. The businessman can be extradited to the United States and stand trial there.

“The sentence will be carried out first in South Korea and then in the United States,” said Dan Sunghan, head of the Financial Crimes Bureau at the Seoul Southern District Prosecutor’s Office.

The prosecutor added that Do Kwon could face a record 40-year sentence in the financial fraud case.

“This is the largest financial or securities fraud case that has ever taken place in South Korea,” says Deng Sunhan.

The extradition process can take up to nine months, depending on how long the defendant has been in detention.

Now Do Kwon is in Montenegro, where he was arrested for forging documents. Recently, the Montenegrin Court of First Instance granted a €400,000 bail request to Do Kwon and CTO Han Chang-Joon.

Source: Cryptocurrency

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular