South Korea Asks for Interpol’s HELP for Do Kwon’s extradition Amid Legal Battle

The post South Korea Asks for Interpol’s HELP for Do Kwon’s extradition Amid Legal Battle appeared first on Coinpedia Fintech News

South Korea’s National Police Agency has formally requested Interpol’s intervention in the extradition case of Do Kwon, co-founder of Terraform Labs. Kwon is currently facing multiple charges, including securities fraud, in connection with the Terra ecosystem’s collapse in May 2022.

This move comes after a Montenegrin court canceled Kwon’s extradition order to the U.S., providing an opportunity for South Korea to renew its extradition request.

South Korea’s Plea

On March 7th, South Korea’s police agency took a proactive approach, sending a written letter to Interpol’s General Secretariat. The letter included an electronic document, where it seeks help to extradite Do Kwon, facing charges of securities fraud.

Collaborating seamlessly, the Ministry of Justice’s International Criminal Division and the National Police Agency are actively working to repatriate Mr. Kwon. This involves utilizing the International Criminal Cooperation Channel and Interpol’s International Cooperation Line, respectively,” shared Officer Lee Yong-sang.

Despite these efforts, the agency is currently awaiting a response from Interpol.

Extradition Setbacks

A recent setback unfolded as a Montenegrin court canceled Kwon’s extradition order to the U.S. The decision, prompted by an appeal from Kwon’s defense, questioned the validity of the extradition order.

The defense argued that the court’s initial decision was influenced by misinformation about the sequence of extradition requests between the U.S. and South Korea.

In the meantime Kwon faces various charges, including securities fraud, linked to the Terra ecosystem collapse in May 2022, causing substantial financial losses for investors.

Interpol Issued a Red Notice 

Even before Kwon’s arrest in September 2022, South Korean authorities had requested Interpol to issue a “red notice.” Earlier Coinpedia News reported that Interpol has issued Red Notice for Do Kwon’s search and arrest. 

Last year in March, Montenegro police arrested Kwon at Podgorica airport. The arrest exposed forged passports, including Costa Rican and Belgian documents. This led the Montenegrin police to formally charge the former Terra CEO and a co-conspirator for alleged forgery, setting the stage for legal proceedings in a Podgorica court.

Meanwhile, the extradition saga underscores the complexities of international legal proceedings and the challenges posed by cross-border criminal investigations.