According to Zombit’s previous report, Do Kwon, co-founder of Terraform Labs, the developer of the Terra chain, will be extradited to the United States to face fraud charges related to the devastating losses suffered by American investors in the algorithmic stablecoin TerraUSD (UST).
However, Bloomberg pointed out in its latest report that Do Kwon seems to intend to appeal the decision of the Montenegrin court. Do Kwon’s lawyer, Goran Rodic, confirmed to the media yesterday that they intend to appeal the ruling and claimed that the court failed to properly evaluate the facts of the case. He believes that this decision will not be upheld in the appellate court and will fail, just like the two previous attempts.
As for why Do Kwon is so insistent on returning to South Korea, apart from it being his homeland, another reason is the difference in punishment between the two countries. In South Korea, the maximum sentence for economic crimes is about 40 years, but the United States does not have such a limitation, and experts speculate that Do Kwon may be sentenced to over 100 years of imprisonment for financial fraud in the United States.
