Do Kwon arrested | Bitcointalksearch.org

zasad@

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Quote from: Z-tight on January 11, 2025, 08:55:41 AM

Quote from: zasad@ on January 11, 2025, 06:14:11 AM

The trial is scheduled for January 2026. Co-operation in such cases takes several years. Dok Kwon and his lawyers have very little time to make all the necessary agreements with the government and turn in their associates.

Trial is going to start a year from now, i think they have time, however, it all depends on the kind of cooperation, that is what information Do Kwon can give the authorities and how valuable it would be to them. They may also want to make an example of Do Kwon and despite whatever he attempts to do to reduce his prison time, he could still get a very long time in jail.

The example with the exemplary flogging suggests that you are not in control of the situation and there is no point in communicating with you. What crypto user is going to cooperate with the U.S. government after that?

FTX's assets are now worth far more than all the debts, compensation and all the legal fees. Why is Sam in jail?

Z-tight

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Quote from: zasad@ on January 11, 2025, 06:14:11 AM

The trial is scheduled for January 2026. Co-operation in such cases takes several years. Dok Kwon and his lawyers have very little time to make all the necessary agreements with the government and turn in their associates.

Trial is going to start a year from now, i think they have time, however, it all depends on the kind of cooperation, that is what information Do Kwon can give the authorities and how valuable it would be to them. They may also want to make an example of Do Kwon and despite whatever he attempts to do to reduce his prison time, he could still get a very long time in jail.

zasad@

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Quote from: Z-tight on January 10, 2025, 04:13:09 PM

Quote from: btc_angela on January 05, 2025, 03:55:58 PM

But I'm not sure if the US will give that huge sentencing on Do Kwon. So it could be the rest of his life in jail or US Justice system giving him light sentence of just up to 20 years.

I also don't think he would get up to 130 years in prison, that was the same way they said sbf was facing a very long time in prison, but in the end he was only sentenced to 25 years in prison. If Do Kwon has useful information to give the authorities, then he will probably get a light sentence, because that has been the pattern for sometime now.

The trial is scheduled for January 2026. Co-operation in such cases takes several years. Dok Kwon and his lawyers have very little time to make all the necessary agreements with the government and turn in their associates. The co-operation may have started earlier. If there is a summary trial, it means Do Kwon made a deal, but if there is a jury trial, the sentence could be longer.

Z-tight

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Quote from: btc_angela on January 05, 2025, 03:55:58 PM

But I'm not sure if the US will give that huge sentencing on Do Kwon. So it could be the rest of his life in jail or US Justice system giving him light sentence of just up to 20 years.

I also don't think he would get up to 130 years in prison, that was the same way they said sbf was facing a very long time in prison, but in the end he was only sentenced to 25 years in prison. If Do Kwon has useful information to give the authorities, then he will probably get a light sentence, because that has been the pattern for sometime now.

zasad@

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https://www.msn.com/en-us/crime/general/kwon-do-hyung-s-crypto-fraud-trial-set-for-january-2026-could-face-130-years/ar-BB1rcX7A
Kwon Do Hyung’s Crypto Fraud Trial Set for January 2026—Could Face 130 Years

"Bloomberg reported on Wednesday that the criminal trial of Kwon Do-hyung, the key figure in the collapse of cryptocurrencies Terra and Luna, is expected to take place in January next year in the United States.

Judge Paul Engelmayer of the Southern Federal Court of New York tentatively set the trial start date for January 26, 2026, during a pre-trial conference for Kwon’s case. The initial trial is anticipated to last four to eight weeks.

Kwon, who had been on the run since the Luna and Terra crash in May 2022, was apprehended on March 23 last year at Podgorica Airport in Montenegro while attempting to board a flight to Dubai. The U.S. and South Korea had indicted Kwon, but neither country had an extradition treaty with Montenegro, so they have been competing to secure his custody.

Expand article logo Continue reading

On December 27 last year, the Montenegro Ministry of Justice ended the two-year-long confusion surrounding the extradition process by approving Kwon’s extradition to the United States."

____
So far, it's not good news. This year will bring us more interesting facts about Do Kwon and how many people he will testify against to avoid a life sentence.

btc_angela

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Quote from: zasad@ on January 01, 2025, 06:40:24 AM

Quote from: btc_angela on December 29, 2024, 04:25:48 PM

@OmegaStarScream, there is some update on this case, as The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,"

Quote

"It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America," the statement said.

https://www.bbc.com/news/articles/cn7r8xr3v76o

It was not clear though when is Do Kwon going to be extradited in the United States to face criminals charges.

On the other hand, I think the US justice system will be more harsh that the South Koreans. And if found guilty, maybe 20 years for Do Kwon.

I think that Do kwon is of no use to anyone in the US if he gives his billions to the government.
Of all the crypto scammers, SBF is the only one with balls.
Why put someone in prison for 20 years if they are willing to give up all their cryptocurrency and cooperate with the government? The US government needs to give the right signals, my prediction is no more than 5 years in prison.

So he arrived in the US on December 31. And according to court documents,

Quote

Kwon is charged with two counts of commodities fraud, for which he faces a maximum penalty of 10 years in prison for each count; two counts of securities fraud, for which he faces a maximum penalty of 20 years in prison for each count; two counts of wire fraud, for which he faces a maximum penalty of 20 years in prison for each count; two counts of conspiracy to commit commodities fraud, securities fraud, and wire fraud, for which he faces a maximum penalty of five years in prison for each count; and one count of money laundering conspiracy, for which he faces a maximum penalty of 20 years in prison. If convicted of all charges, Kwon faces a maximum penalty of 130 years in prison. A federal district court judge will determine any sentence based on the U.S. Sentencing Guidelines and other statutory factors.

https://www.justice.gov/opa/pr/do-kwon-extradited-united-states-montenegro-face-charges-relating-fraud-resulting-40b-losses

But I'm not sure if the US will give that huge sentencing on Do Kwon. So it could be the rest of his life in jail or US Justice system giving him light sentence of just up to 20 years.

zasad@

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Quote from: btc_angela on December 29, 2024, 04:25:48 PM

@OmegaStarScream, there is some update on this case, as The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,"

Quote

"It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America," the statement said.

https://www.bbc.com/news/articles/cn7r8xr3v76o

It was not clear though when is Do Kwon going to be extradited in the United States to face criminals charges.

On the other hand, I think the US justice system will be more harsh that the South Koreans. And if found guilty, maybe 20 years for Do Kwon.

I think that Do kwon is of no use to anyone in the US if he gives his billions to the government.
Of all the crypto scammers, SBF is the only one with balls.
Why put someone in prison for 20 years if they are willing to give up all their cryptocurrency and cooperate with the government? The US government needs to give the right signals, my prediction is no more than 5 years in prison.

btc_angela

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@OmegaStarScream, there is some update on this case, as The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,"

Quote

"It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America," the statement said.

https://www.bbc.com/news/articles/cn7r8xr3v76o

It was not clear though when is Do Kwon going to be extradited in the United States to face criminals charges.

On the other hand, I think the US justice system will be more harsh that the South Koreans. And if found guilty, maybe 20 years for Do Kwon.

safar1980

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Montenegro’s top court orders another review in the case of cryptocurrency mogul Do Kwon

PODGORICA, Montenegro (AP) — Montenegro’s top court said Friday it has overturned a decision to hand over a South Korean mogul known as “the cryptocurrency king” to his native country.

The move marks yet another twist in a months-long legal saga in the case of Do Kwon, the Terraform Labs founder arrested in Montenegro last year.

Both South Korea and the U.S. had requested Do Kwon’s extradition from Montenegro.

Montenegrin courts first had ruled in favor of the U.S. but the ruling was later overturned in favor of South Korea’s request. The Supreme Court said Friday that a lower court should repeat the procedure again and that the final decision lies with Montenegro’s justice minister.

Kwon was charged in the U.S. with fraud by federal prosecutors in New York over a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world.

zasad@

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Breaking News
https://fortune.com/2024/03/23/crypto-fugitive-do-kwon-montenegro-jail-terrausd-terraform-lab/

"South Korean crypto fugitive Do Kwon was released from prison in Montenegro early Saturday as the Supreme Court deliberates on extradition requests from US and South Korea.

“We released Do Kwon from prison as his regular prison term for traveling with fake papers ended,” prison director Darko Vukcevic said by phone. “Since he is a foreign citizen and his documents were withheld, he was taken for an interview to police directorate for foreigners, and they will deal with him further.” "

Will Do Kwon run away from Montenegro?

zasad@

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Most likely, the issue of Do Kwon's extradition will be decided by the Constitutional Court. In my country, this is a very long undertaking, and since the Constitutional Court is very busy, cases can last for years, and if desired, this process can be extended. Stocking up on tons of popcorn

Lucius

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I'm telling you that in that country (as well as in most Balkan countries) everyone and everything has its price, and Montenegrin (Serbian) politicians are not the brightest when it comes to making enemies. I already wrote that according to Montenegrin law, the US has priority in extradition because they were the first to request it, but some people are obviously too stubborn to understand that. Let them just play smart, but when the US sends them a secret agent Jason Bourne, then they will see who they are kidding Grin

In the meantime, a little recreation in the Parliament of Montenegro - maybe it's about Do Kwon Roll Eyes

stompix

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Quote from: sokani on February 22, 2024, 01:38:13 AM

It looks the dodging game has come to an end and the US has won the extradition battle to have Do Kwon tried in an american court according to news from multiple sources.

Not even close:

Two days ago:
Montenegro Court Confirms Crypto Mogul’s Extradition to South Korea

Quote

The Montenegrin Court of Appeals has rejected the appeals of the defence for the fugitive founder of the collapsed cryptocurrency Terra, Do Kwon, and confirmed the previous decision of the Higher Court from March 6, allowing his extradition to his homeland of South Korea instead of the United States.

Then one day ago:
https://cointelegraph.com/news/do-kwon-extradition-montenegro-supreme-court

Quote

In a March 21 announcement, prosecutors said they requested a protection of legality before the Supreme Court of Montenegro following an appeal to stop Kwon’s extradition to South Korea. According to the request, the appellate court violated procedure in rejecting an appeal from Kwon’s legal team. It argued only the Supreme Court had the authority to adopt a legal decision in the case.

If someone has run out of popcorn, go refill cause this ain't over!
And this is just the extradition, wait till the trial begins, then all the delays, then the sentencing, I would say it's better to buy the popcorn by the 100-kilo bag as I don't see this ending this year without a miracle!

chotu1

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Quote from: OmegaStarScream on March 23, 2023, 08:29:49 AM

According to Bankless, Do Kwon (The founder of Luna/USDT) has been arrested in Montenegro:

https://twitter.com/BanklessHQ/status/1638891838881910785

Founder of UST. Not USDT.

Almost 1 year of his arrest. I want this man to rot in hell. Lost my life savings in UST. Angry

zasad@

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ha-ha-ha

https://www.theblock.co/post/284071/montenegro-prosecutor-contests-do-kwon-extradition?
Montenegro’s top prosecutor contests Do Kwon’s South Korea extradition
"Montenegro’s Supreme State Prosecutor’s Office said the court’s decision to extradite Do Kwon to South Korea overstepped its authority.
Kwon, behind Terra-Luna’s $40 billion collapse of 2022, was arrested in Montenegro last year."

___
Well, you understand that until Do Kwon’s money runs out, politicians can play this game for a very long time. Grin

Lucius

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Quote from: https://www.coindesk.com/policy/2024/03/07/do-kwon-can-be-extradited-to-south-korea-montenegrin-court-rules-reports/

Terra founder Do Kwon will be extradited from Montenegro to South Korea to face criminal charges over the collapse of his crypto enterprise after March 23, his lawyer told CoinDesk.

The legal circus continues, the high court has now made a decision according to which Do Kwon should still be extradited to South Korea after serving his sentence for possession of forged documents. It is not known whether his lawyers will appeal the decision again, but it is known that the US, which is still seeking his extradition, will appeal the decision.

From a legal point of view, the US should have priority in this particular case under Montenegrin law, because the US submitted the request for extradition 1 day before South Korea did.

zasad@

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This is of course very ridiculous, but it seems to me that the issue here is not about justice, but about the hunt for Do Kwon’s money. A lenient sentence in both countries will only be given if he returns all the money to the budget of the country where the trial will take place.
And Montenegro is in no hurry to give the “golden antelope” to other countries

stompix

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Quote from: Lucius on February 12, 2024, 05:39:35 AM

When you see how various criminals pass in front of the US judiciary, you are not surprised that Do Kwon obviously wants to avoid being extradited to South Korea at all costs.

He wants to go to South Korea not the US, his lawyer is actually trying pretty hard to make that happen
https://blockworks.co/news/do-kwon-extradition-troubles

Quote

A declaration from Kwon’s lawyer, Goran Rodić, in Montenegro accompanied the letter filed by the law firm on Monday. He said that the High Court in Montenegro ruled that Kwon should be extradited to the US because it believed that the US was the first to make the extradition request. A fact, he added, that is inaccurate.

There is nothing surprising about this, SK and the USA have a treaty in place, and according to the double jeopardy clauses he will not be chaged in another country if one has already sentenced him for the crime, so he is seeking to go to South Korea because the initial charges were carrying less of a punishment, he is facing 5 years in prison in SK for breaching of capital markets law and up to lifetime for fraud, but in the US he faces two charges (out of 8 counts) for wire fraud, each of them could land him in prison for 40 years while commodities fraud alone can get him another 25, so of course he's betting on not the maximum in SK, gambling on not being convicted on a law that was enacted after his crime happened and being judged on previous terms so no life term.

zasad@

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Quote from: sokani on February 23, 2024, 05:54:16 AM

Quote from: zasad@ on February 22, 2024, 03:46:24 AM

I would not put an end to this matter. I know that preparation for extradition can last 6 months minimum, and sometimes it takes more than a year. And during this time we will hear a lot more news or Do Kwon’s lawyers will come up with ways to delay this process.

You're not wrong, even the extradition date was not disclosed in the news and the process may take longer than expected. Who knows, Do Kwon's lawyer like you said may still have some tricks up his sleeve to halt the extradition process.

On a personal perspective, I'd like to have him tried in the United States because I believe in his home country he'd easily influence the judicial process than in the United States, but I may be wrong.

Under Korean law, Do Kwon will receive life imprisonment. In Korea, the laws for such fraud are more severe.

Quote from: Lucius on February 23, 2024, 06:27:17 AM

The High Court in Podgorica made a decision to extradite Do Kwon to the US, but the problem is that there is currently a political dispute over who is responsible for this extradition - the authorities cannot agree whether the High Court or the Minister of Justice. In addition to all this, his lawyers claim that the decision is illegal and announce a lawsuit - and that speaks for itself - a country where the decisions of the High Court are not respected can hardly be called a country where there is a rule of law.

hahaha. I can't comment on this without laughing.
I wrote that Do Kwon has more money than the country’s annual budget, and the authorities, under any pretext, will make sure that Do Kwon stays in Montenegro as much as possible.
If he had stolen a million, he would have been deported to the USA long ago.

Lucius

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The High Court in Podgorica made a decision to extradite Do Kwon to the US, but the problem is that there is currently a political dispute over who is responsible for this extradition - the authorities cannot agree whether the High Court or the Minister of Justice. In addition to all this, his lawyers claim that the decision is illegal and announce a lawsuit - and that speaks for itself - a country where the decisions of the High Court are not respected can hardly be called a country where there is a rule of law.

Topic: Do Kwon arrested (Read 1780 times)