The Founder of Terraform Labs Fights Extradition Order
The founder of Terraform Labs, Do Kwon, is contesting a court order that mandates his extradition to South Korea or the U.S. for criminal prosecution. Kwon submitted an appeal on Dec. 6, opposing the approval of his extradition issued by a High Court in Montenegro. He refuses to comply with the court’s ruling on his transfer to his home country or the U.S., where he is facing litigation with the SEC.
Appeal and Review Process
Kwon’s appeal has been submitted to a Montenegrin Court of Appeal, and authorities must now review the initial extradition order. This filing came just 11 days before authorities were scheduled to decide on Kwon’s extradition destination. Previously, a Podgorica court had ordered his removal from the country due to travel document forgery.
Increased Sentence and Extradition Timeline
Kwon, along with former Terra executive Han Chang-Joon, was sentenced to four months in jail. However, Kwon’s sentence was later increased to six months as authorities determined his deportation location. Reports suggest that Kwon preferred extradition to South Korea over the United States. According to local sources, his extradition is likely to occur in January 2024 unless there are delays in court rulings.
SEC Case and Potential Sanction
The SEC has requested a summary judgment in its case against Do Kwon. However, Kwon’s lawyers may have additional leverage against the SEC due to proceedings in a Utah federal court involving Digital Licensing Inc. The SEC could face potential sanctions for contentious conduct in its case.
Hot Take: Do Kwon Fights Extradition Order Amidst Legal Battles
The founder of Terraform Labs, Do Kwon, is determined to resist extradition to South Korea or the U.S., where he faces criminal prosecution and litigation with the SEC. Despite being incarcerated in a Balkan prison for travel document forgery, Kwon has submitted an appeal against the court’s decision. The outcome of his appeal will determine whether he will be extradited and where he will be sent. In the meantime, the SEC’s case against Kwon may face challenges due to ongoing proceedings in a Utah federal court. Kwon’s legal battles continue as he fights for his freedom and rights.
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