It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.
Topic: Do Kwon arrested - page 3. (Read 1780 times)
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
"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
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 
Hahahahhttps://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.
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?
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.
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.
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. 
Poor Do Kwon.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
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
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.
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.
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
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
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.
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.
https://www.digitalasset.works/news/articleView.html?idxno=3271
"All 5,292 BTC (bitcoin) (approximately 217.6 billion won) were confirmed to have been withdrawn from a virtual asset wallet owned by Kwon Do Hyun, CEO of Terraform Labs (TFL), on July 3
digitalasset discovered data on the blockchain that 5292 BTC was transferred to an anonymous wallet that was never in the transaction history of CEO Kwon on July 23rd."
"All 5,292 BTC (bitcoin) (approximately 217.6 billion won) were confirmed to have been withdrawn from a virtual asset wallet owned by Kwon Do Hyun, CEO of Terraform Labs (TFL), on July 3
digitalasset discovered data on the blockchain that 5292 BTC was transferred to an anonymous wallet that was never in the transaction history of CEO Kwon on July 23rd."
After Do Kwon's and his buddy first had their bail requests approved and then annuled (prosecutor ofc claimed that bail was too low) in the end they got them aproved again and should be released.
It still baffles me that they even allowed him bail after everything, let al;one setting that ridicolously low amount for something as rish as he is.
Do Kwon is accused of trying to "travel with fake documents." Formally, this is an adequate pledge for such a crime. The more time Do Kwon spends in Montenegro, the more benefits there will be for the country. But I'm sure that Do Kwon will look for another country to stay and run away from Montenegro. It still baffles me that they even allowed him bail after everything, let al;one setting that ridicolously low amount for something as rish as he is.
The Montenegro court handling Terra founder Do Kwon's passport forgery case has accepted his 400,000 euro ($428,000) bail request after a higher court annulled a previous approval, according to a Friday announcement.
In March, Kwon, along with former Terra executive Han Chang-joon, were arrested in Montenegro for allegedly attempting to travel with falsified documents. Authorities in South Korea had been searching for Kwon after his multi-billion dollar crypto enterprise collapsed in May last year. Since his arrest, both South Korea and the U.S. have requested Kwon's extradition to face criminal charges following his trial in Montenegro.
The basic court in the capital city of Podgorica had already approved a bail request from Kwon's lawyers for the same amount, but it was annulled after prosecution appealed the decision, and a higher court found that the first approval was not based on a sound assessment of the defendants' property based on "concrete evidence."
In March, Kwon, along with former Terra executive Han Chang-joon, were arrested in Montenegro for allegedly attempting to travel with falsified documents. Authorities in South Korea had been searching for Kwon after his multi-billion dollar crypto enterprise collapsed in May last year. Since his arrest, both South Korea and the U.S. have requested Kwon's extradition to face criminal charges following his trial in Montenegro.
The basic court in the capital city of Podgorica had already approved a bail request from Kwon's lawyers for the same amount, but it was annulled after prosecution appealed the decision, and a higher court found that the first approval was not based on a sound assessment of the defendants' property based on "concrete evidence."
After Do Kwon's and his buddy first had their bail requests approved and then annuled (prosecutor ofc claimed that bail was too low) in the end they got them aproved again and should be released.
It still baffles me that they even allowed him bail after everything, let al;one setting that ridicolously low amount for something as rish as he is.
It still baffles me that they even allowed him bail after everything, let al;one setting that ridicolously low amount for something as rish as he is.
The Montenegro court handling Terra founder Do Kwon's passport forgery case has accepted his 400,000 euro ($428,000) bail request after a higher court annulled a previous approval, according to a Friday announcement.
In March, Kwon, along with former Terra executive Han Chang-joon, were arrested in Montenegro for allegedly attempting to travel with falsified documents. Authorities in South Korea had been searching for Kwon after his multi-billion dollar crypto enterprise collapsed in May last year. Since his arrest, both South Korea and the U.S. have requested Kwon's extradition to face criminal charges following his trial in Montenegro.
The basic court in the capital city of Podgorica had already approved a bail request from Kwon's lawyers for the same amount, but it was annulled after prosecution appealed the decision, and a higher court found that the first approval was not based on a sound assessment of the defendants' property based on "concrete evidence."
In March, Kwon, along with former Terra executive Han Chang-joon, were arrested in Montenegro for allegedly attempting to travel with falsified documents. Authorities in South Korea had been searching for Kwon after his multi-billion dollar crypto enterprise collapsed in May last year. Since his arrest, both South Korea and the U.S. have requested Kwon's extradition to face criminal charges following his trial in Montenegro.
The basic court in the capital city of Podgorica had already approved a bail request from Kwon's lawyers for the same amount, but it was annulled after prosecution appealed the decision, and a higher court found that the first approval was not based on a sound assessment of the defendants' property based on "concrete evidence."
LOL. I told you that in Montenegro they will replenish the country's budget at the expense of Do Kwon's money. What do you think, what was the amount of the bribe to achieve such a "fair" court decision?
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.
You don't know how this works.
Bitcoins will not go to state budget but directly to wallets of state officials.
The official bail that the court appointed, I think, will be sent to the country's budget, but the amount of bribes in the form of money and cryptocurrencies may appear in the next criminal case. But this story should not end quickly.
If Do Kwon is arrested in another country, he will tell the police everything.
LOL. I told you that in Montenegro they will replenish the country's budget at the expense of Do Kwon's money. What do you think, what was the amount of the bribe to achieve such a "fair" court decision?
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.
You don't know how this works.
Bitcoins will not go to state budget but directly to wallets of state officials.
LOL. I told you that in Montenegro they will replenish the country's budget at the expense of Do Kwon's money. What do you think, what was the amount of the bribe to achieve such a "fair" court decision?
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.
It looks like Do Kwon (and his buddy who was arrested with him) will be released on $436k bail each, which is really peanuts for him. This is just ridicolous, guy was arrested while trying to flee the country using private jet and fake documents yet Montengero court still plans to set to release him.
https://www.theblock.co/post/230575/do-kwon-bail
With the news that the court has granted Do Kwon's bail request and placed him under house arrest. He also promised to disclose this case as transparently as possible until the end of the trial procedure. I felt that Do Kwon was cheated by other people but everyone thought Do Kwon was a cheat. Now let's all give him some time to find the real scam. https://www.theblock.co/post/230575/do-kwon-bail
@Rikafip, I read the news today, and I must say that I am not at all surprised by this decision, because this scammer did not come to this area by chance, but he knew very well that everything can be bought here with money, and quite cheaply. Apart from that, Montenegro does not have an extradition agreement with the US and South Korea, and Kwon claims that Costa Rica's passports are completely legal, and he asks for this to be checked because there is supposedly documentation that can prove it.
True, he didn't open company in Serbia for no reason and ended up hiding there, but I still don't think that Montenegro will just let him go to Costa Rica freely. Montenegro is west oriented country (they are in NATO, officials currency is euro and their goal is to enter EU) and I don't think they will dare to ignore US/South Korea request.
As for release, the authorities say that they will be housed in an apartment guarded by the police.
Yeah I saw it, that will definitely stop him if he decides to leave. 
@Rikafip, I read the news today, and I must say that I am not at all surprised by this decision, because this scammer did not come to this area by chance, but he knew very well that everything can be bought here with money, and quite cheaply. Apart from that, Montenegro does not have an extradition agreement with the US and South Korea, and Kwon claims that Costa Rica's passports are completely legal, and he asks for this to be checked because there is supposedly documentation that can prove it.
As for the release, the authorities say that they will be housed in an apartment guarded by the police.
As for the release, the authorities say that they will be housed in an apartment guarded by the police.
It looks like Do Kwon (and his buddy who was arrested with him) will be released on $436k bail each, which is really peanuts for him. This is just ridicolous, guy was arrested while trying to flee the country using private jet and fake documents yet Montengero court still plans to set to release him.
https://www.theblock.co/post/230575/do-kwon-bail
https://www.theblock.co/post/230575/do-kwon-bail
I have a feeling that he will be extradited very soon.
And then the Montenegrin authorities will act according to the circumstances and try to keep such a rich scammer on their territory for as long as possible. My theory still has a right to exist until Do Kwon is extradited.
Not sure if that is the best move for the Montenegrin authorities. I mean what will they get from keeping Do Kwon in their prison? So it's better for them to really extradite him, it's just the question on who is going to get him first, US or South Korea? Both countries has made a official request already. So let's see, because it seems that they are keen on prosecuting Do Kwon first, forged documents and after he served his sentenced, he might be extradited.
S.Korea, US seeking extradition of crypto entrepreneur Do Kwon -Montenegro.
Not sure what important events though that might affect Montenegro to extradite or not to extradite Do Kwon to the US.
Of course, what's US after is the money that Do Kwon still have in his pocket, it's not that they are going to get it and confiscate for themselves, they will have to liquidate it as per the charges they have on him. Then once his assets has been liquidate then it could the claimants or the victims can get at least part of the money they've lost, I'm talking about US citizens here and not the totality of the victims, (there could be South Koreans and other nationalities for that matter).
Yes and that's why US is really at the tail of Do Kwon because they want to pay compensation right away. And this is not the first time that US will exercise their extradition with Montenegro, there was a couple who fled to that country when they pull a scam for a $20 million fraud.
https://www.justice.gov/opa/pr/fugitive-couple-extradited-united-states-montenegro-begin-prison-sentences-20-million-fraud
So for me, sooner or later Montenegro will extradite Do-Kwon in the States and then face the charges and liquid his assets to pay for all of his victims. Of course lawyers are going to be paid, that's part of their job. But Do-Kwon has a lot of assets and there could be more unravel in court proceedings.
If he agrees on cooperation and gives up the stolen assets and surrenders his accomplices, then he can serve a short term of 3-7 years in a good prison
I have a feeling that he will be extradited very soon.
And then the Montenegrin authorities will act according to the circumstances and try to keep such a rich scammer on their territory for as long as possible. My theory still has a right to exist until Do Kwon is extradited.
Not sure if that is the best move for the Montenegrin authorities. I mean what will they get from keeping Do Kwon in their prison? So it's better for them to really extradite him, it's just the question on who is going to get him first, US or South Korea? Both countries has made a official request already. So let's see, because it seems that they are keen on prosecuting Do Kwon first, forged documents and after he served his sentenced, he might be extradited.
S.Korea, US seeking extradition of crypto entrepreneur Do Kwon -Montenegro.
Not sure what important events though that might affect Montenegro to extradite or not to extradite Do Kwon to the US.
Of course, what's US after is the money that Do Kwon still have in his pocket, it's not that they are going to get it and confiscate for themselves, they will have to liquidate it as per the charges they have on him. Then once his assets has been liquidate then it could the claimants or the victims can get at least part of the money they've lost, I'm talking about US citizens here and not the totality of the victims, (there could be South Koreans and other nationalities for that matter).
Yes and that's why US is really at the tail of Do Kwon because they want to pay compensation right away. And this is not the first time that US will exercise their extradition with Montenegro, there was a couple who fled to that country when they pull a scam for a $20 million fraud.
https://www.justice.gov/opa/pr/fugitive-couple-extradited-united-states-montenegro-begin-prison-sentences-20-million-fraud
So for me, sooner or later Montenegro will extradite Do-Kwon in the States and then face the charges and liquid his assets to pay for all of his victims. Of course lawyers are going to be paid, that's part of their job. But Do-Kwon has a lot of assets and there could be more unravel in court proceedings.
Jump to: