A Montenegrin news outlet reported Terraform Labs co-founder Do Kwon will be released from custody on March 23 after surrendering his passport.
Prosecutors purportedly plan to confiscate the Terraform Labs co-founder’s South Korean passport, though he allegedly used a forged Costa Rican passport in Montenegro in 2023.
Authorities in Montenegro will reportedly release Terraform Labs co-founder Do Kwon as local courts decide on his fate over extradition to the United States or South Korea.to leave prison on March 23 after being held in custody for roughly a year but forced to surrender his travel documents to prevent him from leaving the country.
If extradited to the United States, the Terraform Labs co-founder would likely face eight felony charges filed by prosecutors in March 2023. In South Korea, Kwon could face an indictment for fraud and violations of capital markets law. It’s unclear where he will ultimately be extradited, if at all, at the time of publication.claimedfor defrauding investors at trial.
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