The High Court of
Podgorica has approved the extradition of Do Kwon, the Co-Founder and Former
CEO of Terraforms Labs, to the US. Kwon
faces criminal charges in the US following the collapse of Terraform
Labs.
After rejecting South
Korea’s extradition plea, the Podgorica High Court deliberated over Kwon’s
fate following a directive from the Court of Appeal, Pobjeda reported. Earlier rulings had
indicated conditions favoring Kwon’s extradition, leaving the final decision
in the hands of Justice Minister Andrej Milović.
However, the Court of
Appeal clarified that Kwon, having consented to expedited extradition
proceedings, would be subject to the jurisdiction of the requesting countries.
Kwon’s defense
attorney, Goran Rodić, emphasized legal provisions favoring extradition to
South Korea, citing international agreements and Montenegrin laws. Rodić
contended that prevailing legal frameworks pointed towards South Korea as the
appropriate jurisdiction for Kwon’s extradition.
However, Justice
Minister Andrej Milović framed the decision as politically significant,
highlighting the status of the US as a key diplomatic ally. Milović underscored
efforts to establish a bilateral extradition agreement, signaling Montenegro’s
commitment to bolstering international legal cooperation.
Kwon’s legal
troubles started when he was arrested alongside Terraform Labs’ Former Chief Finance Officer, Han Chang-joon, at
the Podgorica airport. The duo attempted to board a flight to Dubai using
fake Costa Rican passports. Subsequent investigations uncovered additional
Belgian travel documents.
International
Extradition
Recently, Chang-joon was extradited to South Korea, further intensifying
speculation surrounding Kwon’s legal fate. The extradition
decision of Chang-joon happened as a culmination of the aftermath of Terraform
Labs’ collapse in May 2022. Chang-joon and Kwon are at the center of the
controversial crypto project.
Kwon’s legal saga
took a turn when Montenegro’s Appeals Court overturned a decision regarding his
extradition. The reversal resulted from procedural errors, leading to a retrial
and prolonging the legal uncertainty surrounding Kwon’s fate.
Despite previous
approval for Kwon’s extradition by the Podgorica High Court, uncertainties loom
over the process and timeline, exacerbated by a class-action lawsuit involving
more than 300 parties. This lawsuit was filed in Singapore after the
devaluation of the UST token.
The High Court of
Podgorica has approved the extradition of Do Kwon, the Co-Founder and Former
CEO of Terraforms Labs, to the US. Kwon
faces criminal charges in the US following the collapse of Terraform
Labs.
After rejecting South
Korea’s extradition plea, the Podgorica High Court deliberated over Kwon’s
fate following a directive from the Court of Appeal, Pobjeda reported. Earlier rulings had
indicated conditions favoring Kwon’s extradition, leaving the final decision
in the hands of Justice Minister Andrej Milović.
However, the Court of
Appeal clarified that Kwon, having consented to expedited extradition
proceedings, would be subject to the jurisdiction of the requesting countries.
Kwon’s defense
attorney, Goran Rodić, emphasized legal provisions favoring extradition to
South Korea, citing international agreements and Montenegrin laws. Rodić
contended that prevailing legal frameworks pointed towards South Korea as the
appropriate jurisdiction for Kwon’s extradition.
However, Justice
Minister Andrej Milović framed the decision as politically significant,
highlighting the status of the US as a key diplomatic ally. Milović underscored
efforts to establish a bilateral extradition agreement, signaling Montenegro’s
commitment to bolstering international legal cooperation.
Kwon’s legal
troubles started when he was arrested alongside Terraform Labs’ Former Chief Finance Officer, Han Chang-joon, at
the Podgorica airport. The duo attempted to board a flight to Dubai using
fake Costa Rican passports. Subsequent investigations uncovered additional
Belgian travel documents.
International
Extradition
Recently, Chang-joon was extradited to South Korea, further intensifying
speculation surrounding Kwon’s legal fate. The extradition
decision of Chang-joon happened as a culmination of the aftermath of Terraform
Labs’ collapse in May 2022. Chang-joon and Kwon are at the center of the
controversial crypto project.
Kwon’s legal saga
took a turn when Montenegro’s Appeals Court overturned a decision regarding his
extradition. The reversal resulted from procedural errors, leading to a retrial
and prolonging the legal uncertainty surrounding Kwon’s fate.
Despite previous
approval for Kwon’s extradition by the Podgorica High Court, uncertainties loom
over the process and timeline, exacerbated by a class-action lawsuit involving
more than 300 parties. This lawsuit was filed in Singapore after the
devaluation of the UST token.