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Montenegro Court Gave a Green Light to Do Kwon's Extradition

Montenegro Court Gave a Green Light to Do Kwon's Extradition

Key Takeaways

  • Montenegro court approves Do Kwon's extradition to South Korea or the US.
  • The decision follows Kwon's sentencing for using a forged passport.
  • Kwon faces severe legal allegations in both South Korea and the US linked to the Terra ecosystem collapse.

Do Kwon, co-founder of Terraform Labs, faces a major legal development as a Montenegro court has sanctioned his extradition to South Korea or the United States.

The High Court of Podgorica, in a statement on November 24th, confirmed the fulfillment of legal conditions for Kwon's extradition, with the final decision now in the hands of Montenegro's justice minister.

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This judicial decision follows Kwon's four-month jail sentence in Montenegro for using a forged passport in an attempt to flee to Dubai. Charged in June 2023 with using a fake Costa Rican passport, Kwon's extradition will take place after he completes his sentence for document forgery.

Kwon's arrest in March 2023 was linked to the dramatic $40-billion collapse of the Terra ecosystem in May 2022. With extradition requests from both the US and South Korea, he faces potential legal repercussions in both nations.

In the US, Kwon is embroiled in a fraud-related civil lawsuit by the SEC and criminal charges by the Justice Department. Conversely, in South Korea, he could face up to a 40-year jail term for crimes allegedly committed in that country.

Montenegro's highest court has recently dismissed Kwon's appeal, ensuring his continued imprisonment at Spuž prison near Podgorica. Reports highlight the challenging conditions in the prison, including limited outdoor time and inadequate ventilation.

Do Kwon's legal saga intensifies with the Montenegro court's approval for his extradition, positioning him at a critical juncture facing significant legal challenges in either South Korea or the United States.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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