Kwon’s Extradition Request Overturned in Montenegro
Montenegro’s appeals court has overturned the decision to extradite Do Kwon, co-founder of Terraform Labs, to the United States. This comes after reports that the Justice Minister had informally agreed to the extradition. As a result of the appeal, Kwon will remain in Montenegro for the time being.
Annulling the Extradition Decision
The appeals court ruled that the extradition decision was invalid due to a violation of legal protocols. It was found that the court had exceeded its jurisdiction in deciding to halt Kwon’s extradition. In Montenegro, the court’s role in extradition matters is only to verify the legal grounds for such a request.
Minister of Justice Holds the Power
The court’s decision to annul Kwon’s extradition highlights that the power to suspend or defer it lies solely with the Minister of Justice, according to Montenegrin legislation. The appeals court made a decision beyond its legal capacity, necessitating the annulment.
Kwon’s Denial of Allegations
Kwon has consistently denied all allegations of fraud brought against him by the U.S. Securities and Exchange Commission and South Korean financial authorities. His charges include commodities fraud, securities fraud, wire fraud, and conspiracy to commit fraud and manipulate the market.
Justice Minister’s Final Decision
The final decision on Kwon’s extradition rests with the Justice Minister, who will determine whether to approve or deny it.
Hot Take: Montenegro Appeals Court Overturns Extradition Request for Terraform Labs Co-founder Do Kwon
The Montenegrin appeals court has overturned the decision to extradite Do Kwon, co-founder of Terraform Labs, to the U.S. The court ruled that there was a violation of legal procedures, as the court exceeded its jurisdiction in halting Kwon’s extradition. The ultimate decision on the extradition lies with the Minister of Justice. Kwon has consistently denied all allegations of fraud against him. This reversal allows Kwon to stay in Montenegro temporarily while the case is reconsidered by the lower court. The decision emphasizes the power of the Justice Minister in extradition matters.
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