Do Kwon, co-founder of Terraform Labs, finds himself stuck in a prolonged legal battle. With a trial pending in the U.S. and uncertain extradition proceedings, his situation remains precarious. However, there’s a recent development: a court order has shifted him from jail to house arrest.
Kwon’s legal mess traces back to the massive collapse of TerraUSD, a financial disaster totaling a jaw-dropping $40 billion. The fallout from this catastrophe has landed him in deeper trouble.
Legal Moves to Consider
On March 22nd, the Montenegrin Supreme Court stepped in, swapping Kwon’s jail time with house arrest. While this offers some relief, there are strict conditions. Kwon is now under passport confiscation and travel restrictions, essentially confined within Montenegro’s borders.
Recent events have seen a clash within Montenegro’s legal system. The Supreme Prosecutor challenged the High Court’s authority in handling Kwon’s extradition to the U.S. This disagreement led to intervention from the Supreme Court itself, putting a pause on the extradition process and sparking debates on legal jurisdiction.
Supreme Court’s Decision
Local reports reveal the Council of the Supreme Court, composed of Judge Milenka Seka Žižić as the president of the council and judges Ana Vuković, Zoran Šćepanović, Dr. Vesna Vučković, and Seka Piletić, implemented this decision by citing Article 440, paragraph 4 of the Criminal Procedure Code, which mentions that “the Supreme Court, considering the content of the request for legal protection, may decide to postpone or suspend the execution of a final court decision.”
As Do Kwon grapples with this situation right now. His move to house arrest marks a significant turn in his turbulent journey. Though uncertainties persist, this change offers some stability amidst the storm of extradition and legal complexities.
