The Montenegro Court of Appeals Revokes Extradition of Do Kwon
The Montenegro Court of Appeals has overturned the previous approval of Do Kwon’s extradition to South Korea or the U.S. This decision came after the Terraform Labs co-founder’s defense attorneys filed an appeal, resulting in the annulment of the High Court’s ruling from December.
In December, Do Kwon won an appeal that overturned the initial decision by the High Court, which deemed the extradition requests legally valid. However, on December 29, the High Court ruled again in favor of the requests, prompting Do Kwon to file another appeal in January.
The Appeals Court based its decision on procedural issues and highlighted the lack of clear reasons and facts in the High Court’s ruling. These grounds led to the revocation of the extradition approval.
As a result, the case will now be reconsidered by the first-instance court.
Terra Ecosystem Collapse
Do Kwon faced extradition charges related to financial crimes in both the U.S. and South Korea, stemming from the collapse of the Terra ecosystem in May 2022.
In March, Do Kwon was arrested in Montenegro for attempting to leave the country using a fake passport. However, he was released on bail in May. In June, he was sentenced to four months in prison for document forgery. Despite appealing this decision, he lost and was ultimately sentenced in November.
Do Kwon gained global attention when Interpol issued a red notice for him in September 2022 due to his involvement in the collapse of TerraUSD and Luna tokens, which resulted in significant losses for investors.
Recently, Do Kwon’s former colleague and ex-CFO of Terraform Labs, Han Chang-joon, was extradited from Montenegro to South Korea.
Hot Take: Montenegro Court of Appeals Overturns Do Kwon’s Extradition
The Montenegro Court of Appeals has made the decision to revoke Do Kwon’s extradition, marking a significant turn of events in this high-profile case. The court cited procedural issues and the lack of clear reasons and facts in the High Court’s ruling as grounds for its decision. This development means that Do Kwon’s case will be sent back to the first-instance court for reconsideration. The collapse of the Terra ecosystem and its financial implications remain at the center of this legal battle, with Do Kwon facing charges related to this incident. With the recent extradition of his former colleague, Han Chang-joon, the spotlight on Do Kwon’s case continues to intensify.
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