Do Kwon arrested - page 2. | Bitcointalksearch.org

crwth

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Quote from: Lucius on February 12, 2024, 06:39:35 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. I heard a long time ago about the case of the company Centra, which was run by the notorious criminal Raymond Trapani, and now a documentary about him and that company has appeared on N, where a man who literally admits that he wants to be a criminal and that he stole tens of millions of dollars from people all over the world after the trial does not get not a single day in prison because he cooperated with the authorities.

I assume that by delaying the extradition, Do Kwon is probably trying to reach some sort of agreement with the US authorities, and of course, in that agreement, he would receive a minimal sentence with his cooperation.

Upon researching the documentary, it's entitled "Bitconned". It's now on my watchlist. It seems like an interesting documentary for Bitcoin and also educational purposes.

It can be similar to that situation but is there any known accomplices with Do Kwon that they may try for a bigger fish to catch or something?

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Quote from: Lucius on February 12, 2024, 06:39:35 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.

In my assumption, the U.S tends to not handle financial crime cases the way it is handled in some Asian countries. For the United States they look for the best possible scenario, so being able to get Intel on many others involved in the crime or similar ones at the expense of a lighter sentence for the convicted criminal is an easy deal.

Some other countries see the prosecutions as a deterrent to others and want to make a public show of the punishments, which should be as stringent as possible.

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Quote from: crwth on February 12, 2024, 12:07:47 AM

Thank you for the explanation guys. It seems that it's getting really interesting how things are turning out with all the scamming, masterminds playing with emotions and money to make a quick buck, loads and loads of money. The South Korean authorities probably want him to take responsibility and I think it's very important for them to take action knowing he is a Korean.

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. I heard a long time ago about the case of the company Centra, which was run by the notorious criminal Raymond Trapani, and now a documentary about him and that company has appeared on N, where a man who literally admits that he wants to be a criminal and that he stole tens of millions of dollars from people all over the world after the trial does not get not a single day in prison because he cooperated with the authorities.

I assume that by delaying the extradition, Do Kwon is probably trying to reach some sort of agreement with the US authorities, and of course, in that agreement, he would receive a minimal sentence with his cooperation.

crwth

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Quote from: zasad@ on February 11, 2024, 11:14:31 AM

In Korea, a new law has been passed under which Do Kwon will receive life in prison. In the United States, he will receive several decades of imprisonment if he gives up everything and cooperates with the authorities.
In Montenegro he can buy his freedom and justice because he has a lot of money. Therefore, Do Kwon will try to stay in Montenegro as much as possible.

Quote from: Lucius on February 11, 2024, 11:20:44 AM

@crwth, according to my understanding, Do Kwon only succeeded in postponing the extradition decision, but I don't see that in the end he won't be extradited to one of the countries that are looking for him. I read that what he is accused of is that he can get a life sentence in South Korea as well, and I'm not sure what kind of punishment he can hope for in the US.

It is possible that the sentence there would be smaller, because one of the recent topics deals with a fraud of as much as $1.89 billion and the sentences for the perpetrators are 5-10 years in the US. What seems to me is that the South Korean authorities are much more interested in Do Kwon's extradition, and his associate was escorted to his homeland by a whole team of agents from South Korea.

To all this, it should be added that an investigation was recently requested into the entry of DO Kwon from Serbia into Montenegro, given that he did not do so legally. Some influential names of Montenegrin politicians who participated in it are even mentioned.

Thank you for the explanation guys. It seems that it's getting really interesting how things are turning out with all the scamming, masterminds playing with emotions and money to make a quick buck, loads and loads of money. The South Korean authorities probably want him to take responsibility and I think it's very important for them to take action knowing he is a Korean.

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@crwth, according to my understanding, Do Kwon only succeeded in postponing the extradition decision, but I don't see that in the end he won't be extradited to one of the countries that are looking for him. I read that what he is accused of is that he can get a life sentence in South Korea as well, and I'm not sure what kind of punishment he can hope for in the US.

It is possible that the sentence there would be smaller, because one of the recent topics deals with a fraud of as much as $1.89 billion and the sentences for the perpetrators are 5-10 years in the US. What seems to me is that the South Korean authorities are much more interested in Do Kwon's extradition, and his associate was escorted to his homeland by a whole team of agents from South Korea.

To all this, it should be added that an investigation was recently requested into the entry of DO Kwon from Serbia into Montenegro, given that he did not do so legally. Some influential names of Montenegrin politicians who participated in it are even mentioned.

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Quote from: crwth on February 10, 2024, 04:36:18 PM

So based on the article, he is being decided on where they will send Kwon right? Being arrested with false documents? It should've been more right? it's really hard to find the right justice for the people who are affected by Kwon's scam

In Korea, a new law has been passed under which Do Kwon will receive life in prison. In the United States, he will receive several decades of imprisonment if he gives up everything and cooperates with the authorities.
In Montenegro he can buy his freedom and justice because he has a lot of money. Therefore, Do Kwon will try to stay in Montenegro as much as possible.

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Quote from: safar1980 on February 10, 2024, 04:23:56 PM

Do Kwon Wins Second Chance to Appeal Extradition From Montenegro

So based on the article, he is being decided on where they will send Kwon right? Being arrested with false documents? It should've been more right? it's really hard to find the right justice for the people who are affected by Kwon's scam

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Do Kwon Wins Second Chance to Appeal Extradition From Montenegro

The Montenegrin High Court decided for a second time in December that extradition requests for Do Kwon held up.
Kwon's lawyer told CoinDesk last month that his client would be appealing the High Court's decision.
Former CFO at Terraform Han Chang-Joon was extradited to South Korea by Montenegrin authorities on Monday.

Former Terraform Labs CFO Han Chang-joon Extradited to South Korea by Montenegro
Han Chang-joon was charged with carrying falsified travel documents alongside Terra co-founder Do Kwon last year.

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https://techcrunch.com/2024/01/21/terraform-labs-files-for-chapter-11-bankruptcy/
"Singapore-based Terraform Labs (TFL), the company behind digital assets TerraUSD (UST) and Luna, filed for Chapter 11 bankruptcy in Delaware following the collapse of its cryptocurrencies in 2022.

Terraform Labs, which confirmed its Chapter 11 bankruptcy protection filing, said the filing is “a strategic step that will enable it to continue its operations and support litigation pending in Singapore and U.S. litigation involving the Securities and Exchange Commission.” The outfit also said it would “meet all financial obligations to employees and vendors during the Chapter 11 case” without requiring additional financing."

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Quote from: safar1980 on January 18, 2024, 05:08:04 PM

US SEC willing to delay Terraform Labs trial for Do Kwon's extradition
The U.S. Securities and Exchange Commission agreed to delay a civil trial against Terraform Labs and co-founder Do Kwon for allegedly orchestrating a $40 billion cryptocurrency fraud, so that Kwon can be extradited and attend.
In a Monday filing in Manhattan federal court, the SEC said a "modest" adjournment of the Jan. 29 trial was justified, based on statements from Kwon's lawyer that Kwon wanted to attend, agreed to extradition from Montenegro, and could be in the United States by mid-March.

I'm cynical about news like this.
I can assume that Do Kwon’s lawyers are trying to reach an agreement with the US authorities. In the USA, you can get a favorable agreement and get a short prison sentence. In Korea he has very little chance, and the laws there are much stricter.

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US SEC willing to delay Terraform Labs trial for Do Kwon's extradition
The U.S. Securities and Exchange Commission agreed to delay a civil trial against Terraform Labs and co-founder Do Kwon for allegedly orchestrating a $40 billion cryptocurrency fraud, so that Kwon can be extradited and attend.
In a Monday filing in Manhattan federal court, the SEC said a "modest" adjournment of the Jan. 29 trial was justified, based on statements from Kwon's lawyer that Kwon wanted to attend, agreed to extradition from Montenegro, and could be in the United States by mid-March.

zasad@

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Quote from: peaky-btc4 on January 11, 2024, 09:33:12 AM

It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

This is unfortunately not the case.
Of course, without a court decision there will be no verdict, but with such a large body of evidence and the number of victims in the USA or South Korea, Do Kwon will receive a very long prison sentence. I studied the laws of South Korea and experts say that in the USA he has a better chance of entering into an agreement with the prosecution. In South Korea the laws are stricter.

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It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

zasad@

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https://storage.courtlistener.com/recap/gov.uscourts.nysd.594150/gov.uscourts.nysd.594150.149.0.pdf
"In this case, the Securities and Exchange Commission (“SEC”)
alleges that the defendants -- Terraform Labs Pte. Ltd., a “cryptoassets” company, and its founder, Do Hyeong Kwon –- orchestrated
a multi-billion-dollar fraud involving the development, marketing,
and sale of various cryptocurrencies. The SEC’s claims, all brought
under the federal securities laws, include a claim that defendants
offered and sold unregistered securities, claims that defendants
offered and effected transactions in unregistered security-based
swaps, and claims that defendants engaged in fraudulent schemes to
lead investors astray. One of the alleged fraudulent schemes is
that defendants misrepresented that one of Terraform’s crypto
asset securities, UST, was permanently pegged to a $1.00 price
through an automatic self-stabilizing algorithm, rather than
through the intervention of a third-party trading firm with whom
defendants struck a secret deal. .."

___
To put it simply, 72 pages indicate that the court was on the side of the SEC in that Terraform Labs and Do Kwon sold unregistered securities of UST, LUNA..
There will be a jury trial on January 29, 2024
https://cointelegraph.com/news/breaking-us-court-rules-favor-sec-do-kwon-terraform-labs-case

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Quote from: Lucius on December 25, 2023, 12:18:41 PM

No offense to Montenegrins (if there are any on the forum), but in that country, as in most Balkan countries, you can buy not only a judge, but also the entire court. It is not at all clear to me why the whole thing is based on an allegedly fake passport for which he was arrested, when there are far more serious charges worth tens of billions of dollars for which this man is wanted by South Korea and the US?

Montenegro's public debt is falling

Hahahah
https://montenegrobusiness.eu/the-total-public-debt-of-montenegro-at-the-end-of-last-year-amounted-to-eur-4-1-billion/

Do you really think that this money should be taken away by the US authorities?
When a guest arrives in such a country with more money than the country’s budget for several years, no one will let him go until this money runs out.
This whole game is just for the sake of money and not for the sake of justice. Investors will not get anything back. It is better that this money or most of it remains in Montenegro.

Lucius

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No offense to Montenegrins (if there are any on the forum), but in that country, as in most Balkan countries, you can buy not only a judge, but also the entire court. It is not at all clear to me why the whole thing is based on an allegedly fake passport for which he was arrested, when there are far more serious charges worth tens of billions of dollars for which this man is wanted by South Korea and the US?

safar1980

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Montenegrin Court Overturns Decision To Extradite Terra Do Kwon to the US
The founder of Terraform Labs, the crypto firm behind the Terra (LUNA) collapse has won an appeal in Montenegro over being extradited to the United States.
According to a statement from the Montenegro Appeals Court, the decision to extradite Terra founder Do Kwon to the US or South Korea has been overturned.

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Quote from: Rikafip on December 07, 2023, 12:11:39 PM

According to WSJ, Montengero made the decision to extradite Do Kwon U.S and not South Korea, which is no surprise at all given the relations between Montentegro and US. I can imagine that he is not happy with that decison at all. Wink

Quote from: https://cointelegraph.com/news/montenegro-extradition-do-kwon-united-states-report

Terraform Labs co-founder Do Kwon will reportedly be extradited to the United States rather than South Korea to face criminal charges.

According to a Dec. 7 Wall Street Journal report citing people familiar with the matter, Justice Minister Andrej Milovic in Montenegro plans to grant U.S. officials’ request for extradition. Kwon was arrested in Montenegro in March and sentenced to four months in prison for using falsified travel documents but has also been charged in the U.S. and South Korea for his alleged role in the collapse of Terraform Labs.

Milovic reportedly said the announcement would be made public “in a timely

Poor Do Kwon.
I wonder how many assets he has already left in Montenegro..?
Unlike SBF, he has nothing to cover the losses of American citizens and he could receive life imprisonment in the United States.
This is how the fate of another cryptocurrency market manipulator will end.

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According to WSJ, Montengero made the decision to extradite Do Kwon U.S and not South Korea, which is no surprise at all given the relations between Montentegro and US. I can imagine that he is not happy with that decison at all. Wink

Quote from: https://cointelegraph.com/news/montenegro-extradition-do-kwon-united-states-report

Terraform Labs co-founder Do Kwon will reportedly be extradited to the United States rather than South Korea to face criminal charges.

According to a Dec. 7 Wall Street Journal report citing people familiar with the matter, Justice Minister Andrej Milovic in Montenegro plans to grant U.S. officials’ request for extradition. Kwon was arrested in Montenegro in March and sentenced to four months in prison for using falsified travel documents but has also been charged in the U.S. and South Korea for his alleged role in the collapse of Terraform Labs.

Milovic reportedly said the announcement would be made public “in a timely

zasad@

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https://cointelegraph.com/news/do-kwon-extradition-montenegro
Kwon extradition approved by Montenegro court
"Montenegro’s minister of justice will make the final decision on Do Kwon’s extradition to either South Korea or the United States.
The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States.

The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement posted on the court’s website on Nov. 24.

As the court approved Kwon’s extradition to either the U.S. or South Korea, the final decision on his extradition will be made by Montenegro’s minister of justice, the announcement notes."

_____
The US authorities gave all the upstarts a slipper on the head. SBF is arrested, SZ pays huge fines, Justin Sun's projects are constantly being attacked by hackers by accident.
Soon the big guys will come to the crypto market.

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