Montenegro’s High Court will soon make a decision regarding the extradition of Terraform Labs co-founder, Do Kwon, to either the United States or South Korea. Kwon’s legal team has successfully appealed the case, prompting the court of appeals to review the matter and make a new ruling. This latest move is part of Kwon’s efforts to delay his transfer to either country, where he would face criminal charges.
The court of appeals stated that if Kwon consents to the extradition, a shortened procedure will be followed, and the court will decide on the matter. Kwon was initially arrested in March 2023 in Montenegro for using falsified travel documents while attempting to leave the country. He was later sentenced to four months in prison and subsequently released while extradition requests from the U.S. and South Korea were being considered.
In April, a U.S. court found both Terraform Labs and Kwon liable for fraud in a civil case brought by the Securities and Exchange Commission. A hearing is scheduled for May 29 to discuss proposed remedies from the involved parties.
As the extradition case unfolds in Montenegro, it remains uncertain whether Kwon will be able to personally assist in his defense in the U.S. or South Korea. If he is extradited to South Korea, he will face charges for fraud and violations of capital markets law.
Related: Montenegrin justice minister engages in discussions about Do Kwon’s case with SEC.
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