Kwon Do-hyung, CEO of Terraform Labs. (Photo=Yonhap News)

 

Kwon Do-hyung, CEO of Terraform Labs, who suffered great damage to the virtual currency market due to the collapse of Terra and Luna, has been confirmed to be repatriated to Korea. It is said that he will be repatriated to Korea as early as the 23rd.

According to major foreign media outlets on the 20th (local time), the Montenegro Court of Appeals confirmed the judgment of the Ford-Goricha High Court, which decided to repatriate Kwon to South Korea.

As the appellate court upheld the original ruling, the Montenegro court's judicial process regarding the extradition of Kwon's whereabouts has ended. Regarding the extradition process, the Minister of Justice of Montenegro has the final approval authority, but it is said that it is difficult to reverse the court's decision. The Justice Ministry of Montenegro is expected to soon officially notify the South Korean Justice Ministry of Kwon's repatriation to South Korea and discuss specific schedules and procedures for extradition.

Bloomberg predicted that CEO Kwon's repatriation to Korea will take place as early as the 23rd. He also said that it is Kwon's victory to be repatriated to South Korea, where the level of punishment is weak, instead of the U.S., which has a high sentence for economic crimes.

Kwon left Korea in April 2022 after causing more than 50 trillion won in losses to investors around the world In March last year, he was arrested and detained in Montenegro on charges of possessing a fake passport.

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]