The Terra co-founder was arrested on March 23 after several months on the wanted list. The usual time limit for detention in such cases under Montenegro’s law is 72 hours, but in the case of Do Kwon, the court decided to detain him for up to 30 days due to the high probability of escape. An official representative of Terra's co-founder has filed an appeal against the decision, according to South Korean news service Arirang NEWS.
One of the main questions for everyone remains in which country will Do Kwon be tried, and where will he serve his punishment. Montenegro has received requests for Do Kwon's extradition from the Governments of the United States and South Korea.
On March 29, a press conference was held, during which the Minister of Justice of Montenegro, Marko Kovac, commented on how the decision on extradition to any country would be made.
“In the case when we receive several extradition requests, I would like to say that determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors.”
However, there is a chance that before his extradition, Do Kwon will serve punishment in Montenegro. This is due to the fact that the co-founder of Terra used a fake passport on the territory of the state, for which there is a penalty of imprisonment.
Despite the fact that Kwon's lawyer has filed complaints against Montenegro, serving a sentence on the territory of this state may be more beneficial for Kwon due to the peculiarities of the country's judicial system.
Where the trial of Kwon will take place is also of interest for the main critic of Terra - an anonymous person with the pseudonym FatMan. If you turn to his Twitter, it looks like that he is unsure of the situation, as he assumes that now the fate of Kwon is in the hands of people who have not heard anything about the failure of Terra before the arrest of Do Kwon.
FatMan subscribers also asked his opinion about the upcoming punishment of Kwon and asked which country's court would be stricter to the co-founder of Terra. It seems FatMan believes that justice will be harsh on Kwon in both countries, because many people have been damaged by his actions.
While the fate of Do Kwon is being decided in Montenegro, the South Korean authorities have again shown interest in the former Terra employee, Shin Hyun-son (also known as Daniel Shin). As we wrote earlier, South Korean judge Hong Jin-pyo cancelled the arrest warrants for Terra employees in December last year due to the lack of risk of destroying evidence. Recall that Daniel Shin is under investigation due to allegations of illegal profit-making (140 billion won) and fraud.
According to a Bloomberg report, the South Korean prosecutor's office has again requested an arrest warrant for Shin. The publication also reported that Daniel Shin's lawyer refused to comment on the situation. Note that we have not been able to confirm this information in official sources.
As Terra employees are actively being held accountable, it seems that the courts and a detailed investigation of the collapse of the large algorithmic stablecoin will begin soon. It can be assumed that the trials of employees will take place in different countries and at different times. We will continue our Observations and inform you about the news!