Montenegro Supreme Court Reverses Ruling on Terraform Labs Co-Founder’s Extradition
The Supreme Court of Montenegro has overturned a previous lower court ruling on the extradition case involving Do Kwon, co-founder of Terraform Labs.
The decision, made in response to prosecutors’ appeal of the appellate court’s rejection of Kwon’s legal team’s appeal, highlighted procedural flaws in the lower court’s handling of competing extradition requests from the United States and South Korea.
In its announcement dated April 5, the Supreme Court emphasized the need for individual assessments of extradition requests involving multiple countries. While the court does not have final authority over extradition orders, a competent minister holds such powers. The case has been referred back to the High Court in Podgorica, which will determine whether Kwon will be extradited to the U.S. or South Korea.
Despite facing criminal charges in both the United States and South Korea, Kwon has been permitted to travel within Montenegro pending the extradition decision. Arrested in March 2023 for using falsified travel documents, Kwon’s case has garnered international attention. Meanwhile, the U.S. Securities and Exchange Commission (SEC) continues its legal proceedings against Terraform Labs and Kwon, utilizing his previous statements in court.
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The ongoing case against Terraform Labs and its co-founder highlights the complexities of cross-border financial crimes. The Montenegro Supreme Court’s decision marks a new phase in the legal proceedings, illustrating the intricate nature of international extradition processes.
In addition to Kwon’s extradition situation, Terraform Labs’ former chief financial officer, Han Chang-joon, also faces legal challenges. Arrested alongside Kwon in March 2023, Han has been extradited to South Korea, reflecting the country’s aggressive stance on prosecuting individuals associated with Terraform Labs. South Korean authorities have indicted several individuals linked to the company, including co-founder Hyun-seong Shin.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
