Former cryptocurrency entrepreneur Do Kwon’s authorized crew is making ready to enchantment a current courtroom determination in Montenegro. The courtroom determined to extradite the Terraform Labs co-founder to the USA, bypassing South Korea, the place he was wished on fraud fees.
Podgorica-based lawyer Goran Rodic, who represented Kwon, expressed his perception that the “unlawful determination” wouldn’t get up earlier than the Courtroom of Enchantment, citing two beforehand overturned choices. The continuing authorized battle witnessed contradictory choices of two totally different courts in Podgorica, the capital of Montenegro.
The Supreme Courtroom’s newest determination on Wednesday supported Kwon’s extradition to the USA however rejected South Korea’s request. Rodic plans to enchantment, criticizing the courtroom for not verifying the accuracy of the info. Refraining from offering additional particulars, Rodic acknowledged that these could be introduced within the upcoming enchantment.
Kwon and his accomplice, Han Chang-joon, have been caught in Montenegro a few yr in the past whereas attempting to journey with faux passports. Each people have been charged by the USA and South Korea in reference to the 2022 collapse of the TerraUSD stablecoin. The incident worn out at the very least $40 billion in investor belongings and triggered a downturn within the crypto market. Earlier this month, Montenegro extradited Han Chang-joon to South Korea.
Kwon stays in extradition custody, along with serving native fines in Montenegro for utilizing false journey paperwork. Authorities are contemplating which nation to extradite Kwon to. In December, an appeals courtroom in Podgorica annulled a earlier Supreme Courtroom ruling that had allowed extradition to the USA or South Korea.
The ultimate approval for extradition belongs to the Montenegrin Minister of Justice. A supply accustomed to the matter, who didn’t need to be named, acknowledged that the federal government intends to approve extradition to the USA, however the determination has not but been made public.
*This isn’t funding recommendation.