South Korean legal experts have been giving their thoughts on why the missing Terraform Labs co founder do quon May chose to reside in Serbia,
Earlier this month, South Korean prosecutors said they believed Kwon was now living in Serbia – and understood he had traveled to the country via the United Arab Emirates. South Korea’s Justice Department has reportedly spoken to its Serbian counterpart in an attempt to obtain an extradition order.
Kwon’s South Korean passport has been revoked, which – at least in theory – means he is unable to travel abroad from his current location. One An arrest warrant has been issued against him and several other Terraform officials, and Interpol has issued a Red Notice calling on international police officers to arrest Quan.
Kwon is wanted on charges of violating the Capital Markets Act and committing fraud – charges he denies and calls “politically motivated”. But so far, he has neither confirmed nor denied that he has resided in Serbia.
in a special newspaper report Chosun Ilbo Several South Korean experts asked why Kwon might have chosen Serbia as a destination.
Here’s what he has to say:
No extradition precedent between Serbia and South Korea
Serbia and South Korea have never signed an extradition treaty. Without it, experts say South Korean prosecutors could be in trouble. Seung Jae-hyeon, a researcher at the Korea Criminal Justice Policy Institute, was quoted as saying:
“For South Korean prosecutors to secure the arrest, Serbia must issue an extradition order, and the extradition needs to be mutually beneficial. Serbia is still a phenomenal nation in this regard.
Seung said:
“If there is no incentive for Serbia, South Korea will need to exercise public power to secure the extradition. It looks like it will be difficult [for the authorities here] to extradite [Kwon] In a short time.”
Depositing and withdrawing crypto funds is ‘easier’ in Serbia
Lee Hong-yeol, a former prosecutor who now works at PK Law Firm, said:
“Serbia is a country that takes a positive stance on many matters related to cryptocurrency. Last year, it legalized crypto trading, while mining activities are carried out with the active support of the government. have chosen this country in an effort to [crypto] Funds.
Others are of the opinion that it is easier to use crypto in Serbia. To CoinATMRadar Data, there are three crypto ATMs in Serbia – two of which are located in the capital Belgrade, while the other is in the city of Novi Sad.
Lee speculated further:
“If Quon’s stay is prolonged, prosecutors may need to be concerned about the potential for money laundering by reinvesting the proceeds of Quon’s alleged crimes.”
The lawyer claimed that Kwon may be seeking to invest his money in “a blockchain-focused venture company in Serbia” – a factor that will likely further complicate matters for South Korean prosecutors.
Prior to prosecutors’ allegations that he had moved to Serbia, Quan was relatively active on social media – but he has refrained from posting on Twitter since the first reports on the matter were published.
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