Breaking: Do Kwon Extradition Decision Reversed by Montenegro Top Court

A lower court ruling about the extradition of the co-founder of Terraform Labs, Do Kwon, has been reversed by the Supreme Court of Montenegro. The decision was made following the prosecutors’ appeal of the appellate court’s rejection of Kwon’s legal team’s appeal. The Supreme Court’s announcement dated April 5 emphasized procedural violations of the lower court, particularly in dealing with rival extradition requests from the United States and South Korea.

The Supreme Court, in turn, clarified its stand on extradition cases involving competing requests from different countries. It stressed the necessity for the High Court in Podgorica to make an individual evaluation of the legal grounds for extradition. The court is not the final body of extradition orders, but a competent minister has the powers. This judgment refers the matter back to the High Court, which will determine whether Kwon should be returned to the U.S. or South Korea.

Do Kwon Faces Charges, Awaits Extradition Decision

Do Kwon face criminal charges in both the United States and South Korea, despite these charges, he has been allowed to travel within Montenegro pending the extradition decision. Kwon was arrested in March 2023 for using falsified travel documents, which put him at the center of international legal scrutiny. Meanwhile, the U.S. Securities and Exchange Commission (SEC) proceeds with a jury trial against Terraform and Kwon, using his previous statements in court.

The case against Terraform Labs and its co-founder is ongoing, drawing attention to the legal complexities of cross-border financial crimes. The decision of the Montenegro Supreme Court introduces a new phase in the legal battle, underscoring the intricate process of international extradition. 

Other Terraform Labs Indictments

While Do Kwon’s extradition situation unfolds, Terraform Labs’ former chief financial officer, Han Chang-joon, faces legal challenges of his own. Arrested in March 2023 alongside Do Kwon, Han has been extradited to South Korea. This move signals South Korea’s aggressive stance on prosecuting individuals connected to Terraform Labs. South Korean authorities have indicted several individuals associated with the company, including co-founder Hyun-seong Shin.

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