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Highlights
- The Montenegro higher court overruled the decision of a lower court to extradite Do Kwon to the US.
- The Court of Appeals cited "significant violations of the provisions of criminal procedure." in the case.
- Do Kwon and his company are also waging a calculated legal tussle with the SEC.
Terra co-founder Do Kwon has seen another victory in the extradition case to the United States. The Montenegro higher court overruled the decision of a lower court to extradite Do Kwon to the US, according to a translated version of the statement issued on Tuesday. This is Do Kwon’s third victory against the Montenegro High Court, which had previously upheld South Korea’s and the United States demands for extradition.
Do Kwon Exempted Again from Extradition
Following the panel meeting on March 5, 2024, the Appellate Court of Montenegro announced a ruling in which it granted the defense attorneys for defendant Kwon Do Hyeong’s appeal and overturned the decision to extradite him. The legal action that culminated in the extradition decision in February in the Balkan nation has not seen the Court of Appeals citing “significant violations of the provisions of criminal procedure.” According to the statement, there are no “clear and valid reasons” for the order of arrival request letter’s crucial data.
Do Kwon had previously had his extradition approved by a Montenegrin higher court. Do Kwon and Han Chang-joon were given a four-month prison sentence after being found guilty of fabricating passports fraudulently. This was followed by Han Chang-Joon’s extradition to South Korea.
However, a relief for Kwon came when back in December, the Montenegrin High Court determined once more that Do Kwon’s extradition requests were still pending and gave him a second win against the extradition.
Read Also: Sam Altman’s OpenAI To Receive Temasek Backing Amid AI Boom: Report
Do Kwon and the SEC Battle
Do Kwon and his company are also waging a calculated legal tussle in the Southern District of New York United States District Court, seeking to overturn the Securities and Exchange Commission’s (SEC) complaint against them. Notably, the main focus is on refuting Dr. Matthew Edman’s evidence, one of the SEC’s primary expert witnesses.
In the meanwhile, the defendants contend that important errors and modifications to the relevant legislation warrant reevaluating the court’s decision to reject their request to have Dr. Edman’s comments excluded.
This legal wrangling by Terraform Labs highlights the significance of expert testimony and recent modifications in legal norms, adding an interesting dimension to the continuing SEC lawsuit. The result of the court’s review of its earlier decision may change the course of this intensely contested legal dispute.
Terra (LUNA) and Terra Classic (LUNC) prices have surged massively in the last 24 hours. At present, they trade up 1.2% and 24% respectively.
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