The Montenegro Appellate Court has confirmed its decision to extradite Terraform Labs co-founder Do Kwon to South Korea, ending the prolonged legal battle marked by multiple appeals and judicial reversals.
The Ruling Brings an End to Do Kwon Extradition Issues
According to the ruling, the High Court in Podgorica correctly determined that the legal requirements for extradition requests from South Korea and the United States were met. However, the High Court decided that South Korea’s request should take precedence over the U.S.
Meanwhile, the court’s decision was influenced by the order in which the extradition requests were received and the criteria outlined in Article 26 of Montenegro’s Law on International Legal Assistance in Criminal Matters. This article provides a framework for handling multiple extradition requests, ensuring the process is conducted fairly and systematically.
Recall that Do Kwon, a high-profile figure, had been the subject of international legal scrutiny, with both South Korea and the U.S. seeking extradition for different charges. As such, the Appellate Court’s ruling is a significant step towards resolving the legal issues surrounding Do Kwon.
Do Kwon Wins Appeal Against US Extradition
In March, Terraform Labs co-founder won an appeal against his extradition to the United States. The Appellate Court of Montenegro in delivering its verdict, reversed the High Court of Podgorica’s decision to extradite Kwon, citing “significant violations of criminal procedure provisions” as the basis for nullifying the extradition order and emphasized procedural irregularities in the initial judgment.
Recall that, before now, the Appellate Court of Montenegro had intervened in Kwon’s extradition proceedings. In December 2023, the court reversed a prior extradition authorization, advocating for a new trial at the Podgorica Basic Court. The court had emphasized that the authority to decide on Do Kwon’s extradition lies exclusively with the nation’s Minister of Justice.
Do Kwon’s Legal Drama Unveiled
The case against Terraform and Kwon stemmed from allegations of defrauding investors regarding statements over the offer and sale of TerraUSD (USDT), Luna (LUNA), and wLUNA. Kwon was arrested in March 2023 for using falsified travel documents while attempting to leave the country.
Although he was later released and allowed to travel within Montenegro, the question of his extradition to either the United States or South Korea was left unanswered. Kwon faced potential criminal charges in both countries.
Also, Terraform Labs and Do Kwon are navigating the legal proceedings amidst significant regulatory challenges, with the Securities and Exchange Commission seeking substantial penalties in response to the alleged misconduct.
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