The Supreme Court of Montenegro has issued an order to postpone the extradition of Do Kwon, the co-founder of Terraform Labs, to his home country of South Korea. The court has decided to review a request from prosecutors before making a final decision.
In a notice released on March 22, the Council of the Supreme Court of Montenegro announced that it would consider a request for the protection of legality regarding a lower court’s decision to allow Kwon’s extradition to South Korea. Prosecutors argued that an appellate court had violated the proper procedure by rejecting an appeal from Kwon’s legal team, claiming that only Montenegro’s Supreme Court had the authority to make such a decision.
Kwon, who is a South Korean citizen, appears to prefer extradition to his home country rather than the United States. He is facing criminal charges in both countries and has been in custody in Montenegro since his arrest in March 2023 for using fake travel documents. Authorities are currently evaluating multiple extradition requests.
If Kwon is extradited to the United States, he would likely face eight felony charges related to fraud at Terraform Labs, filed by prosecutors in March 2023. In South Korea, he is facing an indictment for fraud and violations of capital markets law. It is currently unclear which country, the United States or South Korea, will be granted extradition.
Han Chang-joon, the former chief financial officer of Terraform Labs, was also arrested in Montenegro at the same time as Kwon but was extradited to South Korea in February. In April 2023, South Korean authorities indicted several individuals associated with Terraform Labs, including co-founder Hyun-seong Shin.
Magazine:
‘Am I sorry? No’ — 3AC founder. $6B BTC laundered for fast food worker: Asia Express