Jacques Semmelman, Commercial Litigation partner with extensive experience in international extradition cases, spoke with The Wall Street Journal regarding the competing extradition demands for Do Kwon, the creator of TerraUSD stablecoin, who is currently facing criminal charges in the United States as well as in South Korea. Do Kwon is currently detained in Montenegro, pending potential extradition to one of the two countries, each of which is demanding Do Kwon's extradition. The dual demand creates an especially complex case, which is unlikely to be resolved expeditiously. Jacques stated, "I would expect this case would take at least several months. Some cases take years."
Jacques expressed the view that "South Korea has a more compelling claim." He noted that the United States has no bilateral extradition treaty with Montenegro, putting it at a disadvantage compared to South Korea, which has a multilateral treaty with Montenegro through the European Convention on Extradition. Another factor favoring South Korea is that Do Kwon is a citizen of that country. Jacques added that since South Korea and the United States have an extradition treaty, the United States could issue a subsequent request to Seoul after TerraUSD's creator has arrived there.
"U.S., South Korea Vie Over Extradition of Crypto Fugitive Do Kwon," The Wall Street Journal, March 30, 2023
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