- A South Korean prosecutor announced that Do Kwon might face imprisonment both in the US and in South Korea.
- Dan Sunghan added that Kwon’s repatriation to South Korea would be favorable as it would help recover the damages.
- Sunghan asserted that the most efficient way to find justice is to have the investigations done in South Korea.
Dan Sunghan, a senior South Korean prosecutor declared that Do Kwon, the ill-famed CEO of the crypto exchange Terraform Labs might be imprisoned for a long period both in South Korea and in the United States. According to a recent report, the prosecutor asserted that the repatriation of Kwon to South Korea would be more acceptable when it comes to bringing justice or recovering the damages for victims.
Currently, the Terraform Labs CEO is on bail in Montenegro, following the Montenegro Court’s approval of Kwon’s bail proposal. According to an announcement on June 5, Kwon and the exchange’s Chief Financial Officer Han Chang-Joon were ordered to stay at the latter’s house in Montenegro until a final decision regarding the extradition was made.
Being the director of the financial crime investigation bureau at the Seoul Southern District Prosecution Service and head of the investigation team, Sunghan posited that both countries are seeking the extradition of the accused. He added that there is a possibility for the convicts to be sentenced in both jurisdictions on varying charges.
The prosecutor explained, “The most efficient way to get justice is to have the investigation and trial take place in South Korea, considering the favorable conditions.” He further added that the initial investigation regarding the case was executed in South Korea and the country could help the probing team in a better way when compared to the US as the local authorities have access to more evidence.
In September 2022, the South Korean court ordered the arrest of Kwon following the collapse of Terraform Labs. Later, he was arrested for securities fraud, commodities fraud, wire fraud, conspiracy, and other charges by federal prosecutors in Manhattan.
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