Former Terraform Labs CFO extradited to South Korea

The Montenegrin police announced today that Han Chang-joon, former CFO of Terraform Labs, has been extradited to South Korea. The decision was made by the Montenegrin Ministry of Justice to enable South Korea to bring criminal charges against him for several criminal offenses related to financial investment services, investment, and capital market fraud. In South Korea, these crimes can carry a life sentence. In March 2023, Do Kwon and Han Chang-joon were arrested at the Podgorica airport while attempting to flee on a private plane, ending a six-month international manhunt. Terraform Labs filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code in January of this year.