April 19, 2024
Montenegro Court Reverses Do Kwon Extradition Again Following Appeal
Policy & Regulation

Montenegro Court Reverses Do Kwon Extradition Again Following Appeal

In the latest twist to the ongoing legal saga, a court in Montenegro has once again nullified the extradition of Terraform Labs co-founder Do Kwon, following an appeal by his defence attorneys.

The Appellate Court of Montenegro decided during a panel session on Feb. 7, overturning the previous extradition ruling by the High Court in Podgorica from Dec. 29, 2023. The court’s official announcement stated that the decision was annulled due to “significant violations of the provisions of criminal procedure” and “incomprehensible” wording.

“The decision has no reason for decisive facts, and the reasons given are unclear, which is the reason for its cancellation,” the Appellate Court argued.

This latest development adds another chapter to the protracted extradition process of Do Kwon, which began after the collapse of Terra in May 2022. Financial regulators in South Korea and the United States have accused Terraform Labs and its co-founder Kwon of orchestrating a massive fraudulent scheme resulting in substantial losses for investors.

Kwon was initially arrested in Montenegro in March 2023 for attempting to use falsified travel documents to leave the country. As a South Korean national, he faced extradition requests from both South Korea and the United States.

This isn’t the first time Kwon’s extradition has been cancelled. The Appellate Court previously revoked the extradition approval in December 2023, arguing that the final decision should rest with Montenegro’s minister of justice.

Meanwhile, in another development related to the Terra saga, former Terraform Labs chief financial officer Han Chang-joon was extradited from Montenegro to South Korea on Feb. 5.

During his trial for fraud in South Korea, Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, attributed the collapse of Terra to “external attacks carried out by Do-hyung Kwon [Do Kwon].”

As the legal battles continue, the fate of Do Kwon and his extradition remains uncertain, amidst mounting allegations and a complex international legal landscape.

Image: Wallpapers.com

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