Montenegro Court Denied Do Kwon’s Appeal; Terra’s Daniel Shin Arrest Rejected

Varinder Singh
March 30, 2023 Updated March 31, 2023
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Breaking: South Korean Court Holds First Trial Of Terra Co-Founder

A Montenegro court rejected Terra co-founder Do Kwon’s appeal against extending detention to 30 days. On March 25, lawyers representing CEO Do Kwon and CFO Han Chang-joon filed an appeal against the court’s decision to extend the detention period.

Montenegrin lawyer representing Do Kwon’s passport forgery case said extradition to either South Korea or the U.S. will take months or years. Lawyers Voislav Zetsevich and Branko Angelich are likely to appeal the legal defense in a high court and even in the Montenegro Supreme Court.

On March 29, Montenegro’s Minister of Justice Marko Kovac stated the extradition decision will be taken in a separate court proceeding after the passport forgery case. Moreover, extradition depends on several factors, including the severity of crimes, location of committed offenses, sequence of requests, and nationality.

“Extradition is not a matter to be judged only legally, but will be greatly influenced by international politics and diplomatic relations.”

No matter which country has more rights, the extradition will be inevitably delayed. Many legal experts think South Korea has more chances, but the U.S. advantage. Moreover, Do Kwon can also consider his legal right to appeal to any country that Montenegro decides to extradite to.

South Korea’s Seoul Southern District Prosecutor’s Office said they filed an extradition request to Montenegro on March 24, while the U.S. filed a request on March 25, reported a South Korean news outlet.

Meanwhile, South Korean Embassy officials confirmed that Do Kwon “is in good health.” Embassy officials have also met with Montenegro officials and requested their cooperation in the extradition of Kwon.

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Terra Co-Founder Daniel Shin’s Arrest Warrant Rejected

South Korea’s Seoul Southern District Court began the arrest warrant review for Daniel Shin, co-founder of Terra and former CEO of Chai Corp on Thursday. The court later rejected prosecutors’ request for an arrest warrant for 2nd time, citing no risk of flight or destroying evidence.

Earlier on March 27, South Korean prosecutors confirmed starting the process to arrest Daniel Shin after Do Kwon’s arrest in Montenegro. Prosecutors allege Daniel Shin for violating several laws including the “Capital Market Act,” “Aggravated Punishment Act for Specific Economic Crimes”, the “Electronic Financial Transactions Act”, and the “Specific Financial Information Act.

Also Read: Bitcoin Price Jumps 4% Defying Consolidation, Key Support and Resistance Levels

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.