Breaking: Terra Co-Founder Do Kwon’s Extradition Revoked By Montenegro Court
Highlights
- Terra co-founder Do Kwon's appeal against extradition is revoked by Montenegro court
- The appellate court agreed to significant violations of the provisions of criminal procedure decision by a high court
- The extradition decision will be taken by the courts not the Minister of Justice
Terra’s co-founder Do Kwon’s appeal to reject extradition has been accepted by a Montenegro court, returning the case to the first instance to the court for retrial and decision.
Montenegro Court Accepts Do Kwon’s Appeal
The Court of Appeals of Montenegro revoked a previous decision by Montenegro High Court to extradite Do Kwon to South Korea and the United States, as per a filing on February 8. The court annulled the decision and returned the case to the court of first instance for retrial.
Do Kwon’s appeal was accepted by the appellate court due to significant violations of the provisions of criminal procedure decision. The court agreed with Do Kwon’s attorneys that the “wording of the decision is incomprehensible”. The trial court failed to clearly handle South Korea and the United States’ extradition requests. Also, the high court failed to apply the legal provisions of the extradition procedure correctly.
“In accordance with Article 29 of the Law on International Legal Assistance in Criminal Matters, and not the Minister of Justice, unlike the regular procedure, makes a decision on extradition,” stated the appellate court.
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Former Terra CFO Extradited to South Korea
Han Chang-joon, the former chief financial officer of Terraform Labs, has been extradited to South Korea after serving a prison sentence in Montenegro. He was arrested alongside Do Kwon in March 2023 at the Podgorica airport, attempting to escape from the country.
Han Chang-joon faces potential life imprisonment in South Korea due to the $60 billion Terra-LUNA crisis that collapsed the crypto market.
Meanwhile, the U.S. Securities and Exchange Commission’s (SEC) case against Terraform Labs and its co-founder Do Kwon was postponed. The delay of the civil trial to likely allow the authorities to extradite Do Kwon from Montenegro. Kwon’s legal representatives indicated his willingness to attend the trial in March and agreed to extradition.
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