Prosecutors stated that after the final investigation, Do Kwon’s millions were not in South Korea.
South Korea had requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro. However, Kwon’s assets remain unclear.
Trying to Find Do Kwon’s Assets
Do Kwon, the founder of the company behind TerraUSD, which shocked the cryptocurrency industry last year, was arrested in Montenegro. After Kwon’s arrest, criminal charges were filed in the United States for 13 different crimes. However, South Korea requested Kwon’s extradition.
According to local South Korean newspaper KBS, prosecutors in the country said Do Kwon, the founder of the crashed cryptocurrency producer Terraform Labs, had no discernible properties in South Korea.
Kwon, a South Korean national, was arrested in Montenegro last month for trying to travel with false documents. Both South Korea and the United States demanded Kwon’s extradition, as he faces charges in both countries.
Prosecutors in South Korea estimate that the nine executives earned a total of 414.5 billion won (about $315 million) from the company. According to the report, prosecutors found “almost none” of Kwon’s 91.4 billion won in South Korea.
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