The Supreme Court of Montenegro has invalidated a ruling made by the country’s lower courts regarding the extradition of Do Kwon, co-founder of Terraform Labs, to the United States or South Korea.
In a notice dated April 5, Montenegro’s Supreme Court stated that it had granted a request to protect the legality of the lower court’s decision, which would have allowed Kwon’s extradition to South Korea. Prosecutors who made the request argued that an appellate court had violated procedures by rejecting an appeal from Kwon’s legal team, thereby shifting the final decision to the Supreme Court.
The ruling stated, “In a situation where two states are competing for the extradition of the same person, rather than conflicting requests for the extradition of the same person, as determined by the lower courts, it is the court’s duty to determine, within its jurisdiction, whether the legal requirements for extradition have been met by the defendant in relation to each individual petition. After this determination, the competent minister, not the court, decides on the permission and order of priority for extradition.”
The Supreme Court has stated that the decision regarding Kwon’s extradition will be returned to the High Court in Podgorica, which will then decide whether the co-founder of Terraform should be sent to the U.S. or his home country, South Korea. Kwon faces criminal charges in both countries but has been residing in Montenegro since his arrest in March 2023 for using falsified travel documents. He is reportedly free to travel within Montenegro until the courts make a decision regarding his extradition.
Meanwhile, in the absence of Kwon, lawyers representing the U.S. Securities and Exchange Commission have proceeded with a jury trial against Terraform and its co-founder in March. Some of Kwon’s previous statements have been presented as evidence during the trial, which is still ongoing at the time of this article’s publication.
While Kwon remains in Montenegro, Han Chang-joon, Terraform Labs’ former chief financial officer, who was also arrested in March 2023, has been extradited to South Korea. South Korean authorities have indicted several individuals associated with Terraform Labs, including co-founder Hyun-seong Shin.
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