Montenegrin court delays Do Kwon’s extradition to South Korea

Turner Wright7 hours agoMontenegrin court delays Do Kwon’s extradition to South KoreaThe Terraform Labs co-founder has been in Montenegro since his arrest in 2023, potentially facing extradition to either his native South Korea or the United States.754 Total views21 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onMontenegro’s Supreme Court has reportedly postponed Terraform Labs co-founder Do Kwon’s extradition after upholding a ruling suggesting he would be removed to South Korea.

According to an Aug. 8 report from Montenegrin news outlet Vijesti, the country’s Supreme Court granted prosecutors’ request to delay Kwon’s extradition to South Korea until the court could rule on a matter concerning the protection of legality. Prosecutors filed the motion on Aug. 2 after an appellate court upheld a previous ruling allowing the Terraform co-founder’s extradition.From Korea to Montenegro

After Terra collapsed in 2022, Kwon’s whereabouts were largely unknown, though he remained active on social media. Montenegrin authorities arrested him in March 2023 for using falsified travel documents while attempting to leave the country.

Kwon served four months in a Montenegrin prison, after which time his lawyers and prosecutors began addressing his extradition to the US or South Korea. He would likely face criminal charges and civil lawsuits related to fraud at Terraform in both countries.

Montenegro’s Prime Minister Milojko Spajić was reportedly an early investor in Terraform, sinking $75,000 into the company in 2018.

Related:Terraform to pay $4.47B to resolve SEC civil lawsuit

Since his release from prison, the Terraform co-founder has been mired in legal proceedings. Montenegro’s courts have repeatedly pushed decisions on Kwon’s extradition, with no clear indication at the time of publication of whether he will remain in the country or be sent to either the US or South Korea.

In February, Montenegrin authorities extradited Han Chang-joon, Terraform’s former chief financial officer who was arrested with Kwon, to South Korea. In April, a US court found Terraform and Kwon liable for fraud in a civil case filed by the Securities and Exchange Commission.

Magazine:Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower# Law# South Korea# Court# Terra# Regulation# Do KwonAdd reaction