A Montenegrin national has been Do Kwon’s abode since his spring 2023 arrest. He faces possible extradition to the US or his home country of South Korea to face fraud accusations.
The High Court of Montenegro will determine if Terraform Labs co-founder Do Kwon is to be extradited to the US or South Korea after his legal team has successfully appealed once again.
Vijesti, a Montenegrin news site, said on May 24 that the country’s court of appeals had heard arguments from Kwon’s attorneys and had sent the matter of extradition back to the High Court “for retrial and judgment.” The appeal was the most recent legal move by Kwon’s counsel to postpone his extradition to the United States or South Korea, where he would be subject to criminal prosecution.
According to Montenegro’s court of appeals, the ruling states: “If the person whose extradition is sought offers his permission to extradition, it is a shorter process that needs to be used and in which case the court decides on extradition.”
“In order to meet the assurances that the individual whose extradition is sought provided assent willingly, was aware of the implications, and that the granted consent cannot be reversed,” the first-instance court had to hear the defendant again.
Montenegrin authorities detained Kwon in March 2023 for trying to exit the nation using fake travel credentials. While the courts considered rival extradition demands from the United States and South Korea, he was freed from jail after serving a four-month term.
The SEC filed a civil lawsuit against Terraform and Kwon in April, and in April, a U.S. court convicted them guilty of fraud. At a hearing on May 29, the court will consider the parties’ suggested remedies.
It is uncertain if Kwon can personally help with his defense in the United States or his home country of South Korea while the courts in Montenegro argue over his extradition. Kwon faces charges of fraud and breaches of financial markets legislation if sent back to South Korea for extradition.
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