Do Kwon Extradition Halted! Montenegro Court Blocks US/Korea Request

The post Do Kwon Extradition Halted! Montenegro Court Blocks US/Korea Request appeared first on Coinpedia Fintech News

In a surprising and shocking development, Montenegro’s Appeals Court has canceled the extradition of Do Kwon, the founder of Terra, to the United States or South Korea. Today’s announcement brings a new layer of complexity to the ongoing legal challenges faced by Kwon, who is dealing with various charges across multiple countries.

Do Kwon’s Legal Challenges

Do Kwon, the former CEO of Terra, had previously been arrested and imprisoned in Montenegro for charges related to having fake official documents. But his legal troubles didn’t stop there; he also had pending cases in the United States and South Korea.

The United States Securities and Exchange Commission (SEC) and other agencies have charged Kwon with wire fraud, commodities fraud, securities fraud, and conspiracy to defraud. They claim he was part of a large cryptocurrency scam that led to losses of over $40 billion.

Extradition Requests

Both the United States and South Korea wanted Kwon extradited to face charges related to the collapse of his cryptocurrency company, Terraform Labs, in May 2022.

The Podgorica High Court initially approved Kwon’s extradition but a recent Appeals Court ruling overturned that decision. The court found a procedural error: Kwon’s response to the U.S. extradition request was not properly considered.

What’s Next?

Now that the extradition decision is off the table, the case heads back to the Podgorica Basic Court for a retrial. If the courts end up agreeing to Kwon’s extradition, the final decision rests with the country’s Minister for Justice.

The recent court decision leaves many questions unanswered. Will U.S. and South Korean authorities change their approach? What will Kwon’s legal team do next?

This case continues to evolve, leaving Do Kwon’s future uncertain. Stay tuned for more updates.