Former Terraform Labs Financial Officer Has Been Extradited to South Korea — Montenegro Police

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Montenegro recently extradited the former Terraform Labs financial officer Han Chang-joon to South Korea where he faces fraud-related charges. According to the Montenegro police, the decision to extradite Han was made by the country’s Justice Ministry.

Han Faces Criminal Charges in South Korea

Han Chang-joon, the former financial officer of Terraform Labs, has been extradited to South Korea, the Montenegro police have said. The extradition comes almost a year after he and Terraform Labs co-founder Do Kwon were arrested while attempting to flee the country.

According to the police, the decision to transfer Han into South Korean custody was made by the Montenegro Justice Ministry. As previously reported by News, Han and Do Kwon were arrested after authorities found them in possession of counterfeit identity documents.

They were subsequently sentenced to four months in jail for the offence. Do Kwon later appealed the verdict, but a superior court reportedly rejected his appeal in November 2023.

Explaining the government’s decision to extradite the financial officer, the Montenegro police said:

Han [was extradited to allow South Korean authorities to initiate] criminal proceedings for several criminal offences related to fraud in financial investment services, investments and the capital market, which is punishable by life imprisonment in South Korea.

However, concerning the extradition of Do Kwon, who is wanted by both South Korean and U.S. authorities, the Terraform Labs co-founder’s lawyer said they were waiting for the court to make a ruling on another appeal.

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