Terraform Labs ex-financial officer extradited back to South Korea

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Montenegrin authorities have extradited Han Chang-joon, the chief monetary officer of the now-defunct cryptocurrency agency Terraform Labs, to South Korea.

In accordance with Reuters, citing the Montenegrin Ministry of Justice, Han Chang-joon, and Terraform Lab CEO Do Kwon, accused in america of multibillion-dollar fraud, have been sentenced final 12 months by a Montenegrin courtroom to 4 months in jail for utilizing faux passports, with Chang-joon set to be handed over to South Korean authorities.

“Immediately, the state of Montenegro acted on the request of South Korea and, in response to the choice of the Ministry of Justice, handed over Han Chang-joon to the competent authorities of his residence nation.”

Montenegrin Ministry of Justice

On March 23, 2023, Han Chang-joon and Do Kwon were detained on the airport. The detention occurred on the request of legislation enforcement businesses in Singapore, South Korea, and america. Prosecutors accused the previous head of Terraform Labs of falsifying official paperwork and petitioned to increase the detention of Kwon and Chang Jung. On April 20, 2023, Montenegrin authorities filed prices in opposition to Do Kwon and his enterprise accomplice.

Final December, the choice of the Supreme Courtroom of Montenegro approving the extradition of Terra founder Do Kwon to america or South Korea was rejected by the nation’s Courtroom of Enchantment. This occurred after two nations requested his extradition to face prison prices associated to the collapse of his crypto venture Terraform Labs in Could 2022.

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