Montenegrin authorities have extradited Han Changjun, the former chief financial officer of Terraform Labs, back to South Korea, an official notice showed on Monday. In March 2023, Han and Terra co-founder DoKwon were arrested while trying to travel using forged documents. A few months later, the pair were sentenced to four months in prison by a Montenegrin court.
The two have been held in custody while South Korea decides where to extradite them. The United States and South Korea have both requested that DoKwon be handed over to their respective jurisdictions to face criminal charges stemming from the collapse of multi-billion dollar crypto venture Terraform Labs in May 2022.
According to an announcement by the Montenegrin police, Han was "transferred" to South Korean authorities for the purpose of criminal prosecution of several criminal offenses related to financial investment services, investment and capital market fraud, which in South Korea could be punishable by life imprisonment.
Goran Rodic, a lawyer for Kwon and Han in Montenegro, told CoinDesk in an email that the country’s appeals court has not yet made a decision on Kwon’s extradition request. In January, Kwon appealed a local court's decision to approve his extradition to the United States or South Korea.