The Court’s Decision on Do Kwon’s Extradition
The court in Podgorica has made a positive decision regarding the extradition case of Do Kwon, the founder of Terraform Labs. Both the South Korean and US authorities’ requests have been approved, and the final decision on where Kwon will be extradited to rests with the country’s Minister of Justice. However, before extradition can take place, Kwon must serve a four-month prison sentence for document forgery, as he was found traveling with a fake passport.
Justice Minister to Decide on Extradition Country
The court stated that the justice minister will ultimately determine the country of extradition. According to the court’s website, “If the Minister of Justice decides on the final extradition of those previously accused, the extradition will take place after the execution of the criminal sentence passed by the Podgorica Court of First Instance.”
South Korea and US Seek Extradition
South Korea has urged Montenegro to extradite Kwon to his home country. Additionally, Kwon is also wanted for extradition by the United States, where he faces fraud charges from both the SEC and the Federal Prosecutor’s Office of New York. Both countries view Kwon as a fraudster who intentionally deceived investors.
Kwon’s Arrest and Release
In March, Montenegro police arrested Kwon at Podgorica airport while attempting to fly to Dubai using counterfeit documents. In May, Kwon and Terraform Labs’ former chief financial officer, Han Chang-jung, pleaded not guilty. However, in June, Kwon was released under house arrest after posting bail of €400,000 ($436,000).
Hot Take: Do Kwon Faces Extradition After Court Decision
The court’s decision in the extradition case of Do Kwon, founder of Terraform Labs, paves the way for his eventual extradition to either South Korea or the United States. While the final decision rests with the country’s Minister of Justice, both countries have requested Kwon’s extradition due to fraud charges. Kwon must first serve a prison sentence for document forgery before extradition can occur. This case highlights the international cooperation between authorities in pursuing individuals accused of financial crimes.
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