May 23, 2024
Latest Cryptocurrency News

Supreme Court Nullifies Lower Court Decision on Do Kwon’s Extradition

The Supreme Court of Montenegro has made a pivotal decision regarding the extradition of Terraform Labs co-founder Do Kwon, an action that could potentially shape the future course of legal proceedings involving the prominent figure in both the United States and South Korea.

Legal Reversal

In a notice issued on April 5, Montenegro’s Supreme Court announced the annulment of a lower court decision concerning Kwon’s extradition.

The decision stems from a request for protection of legality against the lower court’s ruling, which favored Kwon’s extradition to South Korea.

Prosecutors argued that procedural errors occurred during the appellate process, prompting the Supreme Court to intervene.

Complex Legal Landscape

The Supreme Court emphasized the need to individually assess the legal conditions for extradition in cases involving competing requests from multiple states.

Consequently, the decision on Kwon’s extradition now returns to the High Court in Podgorica, which will determine whether he is to be extradited to the United States or South Korea.

Ongoing Legal Proceedings

Meanwhile, Kwon, who has been residing in Montenegro since his arrest in March 2023, remains free to travel within the country pending the outcome of his extradition case.

In his absence, legal proceedings initiated by the U.S. Securities and Exchange Commission against Terraform Labs and Kwon continue, with some of Kwon’s previous statements being presented as evidence during the jury trial.

Continued Turmoil for Terraform Labs

While Kwon’s extradition fate hangs in the balance, the legal saga surrounding Terraform Labs unfolds further. Former chief financial officer Han Chang-joon has already been extradited to South Korea, underscoring the multifaceted legal challenges facing the company and its key figures.

As the legal battle ensues, stakeholders closely monitor developments that could significantly impact the future trajectory of Terraform Labs and its implicated individuals.

Image from Wallpaper.com

Related posts

Arthur Hayes on Binance’s Regulatory Scrutiny

Cheryl  Lee

Alameda Research’s Caroline Ellison Testifies About Crypto Fund Misuse

Eva Moore

Hong Kong’s OSL Owner Secures $90M Investment

Bran Lopez

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please enter CoinGecko Free Api Key to get this plugin works.