The High Court in Podgorica, Montenegro, is said to have made a ruling, sending the issue of extraditing Terraform Labs co-founder Do Kwon to either the US or South Korea, to Montenegro’s justice minister for consideration.
Based on a report from Vijesti, published on April 10, Justice Minister Andrej Milović holds the power to determine if Kwon will be extradited and to which country. This decision ensued after Montenegro’s Supreme Court granted a protection of legality request, preventing the lower court from proceeding with the extradition to South Korea.
In March 2023, Montenegrian authorities apprehended Kwon for attempting to exit the country with counterfeit travel documents. He presently remains at large within Montenegro as the courts weigh extradition demands from both the United States and South Korea, where he is wanted for criminal offenses.
In May 2022, Terraform and Kwon were accused of deceiving investors through fraudulent activities. A civil lawsuit filed by the US Securities and Exchange Commission resulted in a jury decision on April 5, holding both parties accountable for this fraud. Criminal charges against Kwon are still possible in the United States and South Korea.
In Montenegro, Kwon’s case has been passed among various courts due to continuous filings of motions and appeals from his lawyers concerning procedural issues. It remains undecided if their intention also included an appeal for the April 10 decision.
Previously, the CFO of Terraform Labs, Han Chang-joon (who was taken into custody with Kwon in Montenegro), was transported to South Korea in February. South Korean authorities have also accused several other individuals linked to Terraform, including co-founder Hyun-seong Shin, of wrongdoing.
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2024-04-11 23:00