Montenegro Court Sanctions Extradition of Do Kwon

The extradition of Terraform Labs co-founder Do Kwon to either South Korea or the United States has been sanctioned by Montenegro's High Court.

Nov 24, 2023 - 16:23
Montenegro Court Sanctions Extradition of Do Kwon
Reading time - 1 min

The ongoing legal drama surrounding Terraform Labs co-founder Do Kwon has reached a new chapter, with Montenegro's High Court in Podgorica sanctioning his extradition to either South Korea or the United States. This development was confirmed through an official announcement on the court's website dated November 24.

The court's approval sets the stage for Montenegro's Justice Minister to make the final call on Kwon's extradition destination. This decision comes in the wake of Kwon's four-month imprisonment sentence by a Montenegrin court for attempting to use a counterfeit passport for travel to Dubai. Reports from June 2023 indicate that Kwon tried to leave the country using a fraudulent Costa Rican passport.

The court clarified that Kwon's extradition would proceed only after he serves his sentence for the document forgery charges.

Kwon's arrest in March 2023 in Montenegro was linked to his involvement in the dramatic $40 billion collapse of the Terra ecosystem in May 2022. Both the United States and South Korea have since sought his extradition, with the possibility of Kwon facing legal repercussions in both jurisdictions.

In the United States, Kwon faces a civil lawsuit for fraud by the Securities and Exchange Commission and several criminal charges by the Justice Department related to the TerraUSD and LUNA collapse. Meanwhile, in South Korea, where most of his alleged offenses occurred, he could face up to 40 years in prison.

Recently, Montenegro's supreme court rejected Kwon's appeal, ensuring his continued incarceration. Reports suggest that Kwon is currently detained at Spuž prison near Podgorica, where conditions are described as cramped and poorly ventilated, with limited outdoor access.

Philip Bohmer Philip is a seasoned journalist that brings clarity to the complex world of cryptocurrencies through his articulate and insightful articles. His passion for blockchain technology fuels his writing, making him a trusted voice in the rapidly evolving digital currency landscape.