Terraform Labs Co-Founder Do Kwon’s Extradition Case Takes a Turn
Do Kwon, the co-founder of Terraform Labs, may not be extradited to the United States as previously expected. The Appellate Court of Montenegro has overturned a previous decision by a lower court to extradite Kwon. He is currently facing fraud and other criminal charges in the US following the collapse of Terra, which resulted in significant losses for investors. South Korean prosecutors are also seeking his extradition.
Appellate Court Overturns Extradition Decision
The Appellate Court of Montenegro revoked the decision made by the Podgorica High Court on March 5, 2024. This decision came after an appeal by Kwon’s lawyers. The court of appeal cited violations of criminal procedural regulations as the reason for overturning the extradition order.
“Deciding on the appeal of the defendant’s defense attorneys, the panel of the Appellate Court assessed that the decision was affected by significant violations of the provisions of criminal procedure.”
This is not the first time that Kwon’s legal team has successfully appealed against an extradition order. They have previously won appeals against extraditions to both the United States and South Korea. The most recent successful appeal took place in February.
Case Returns to Lower Courts
Although this latest decision overturns the extradition order, it does not completely rule out Kwon’s potential extradition in the future. The appellate court has instructed that the case should return to the lower courts for another trial and decision.
Kwon was arrested in Montenegro in March 2023 along with Han Chang-joon, Terraform Labs’ former financial officer. He was convicted for carrying a fake passport and was sentenced to four months in prison.
With Kwon’s extradition now facing further delays, prosecutors in the United States and South Korea, as well as the crypto community, are eagerly awaiting the decision of the Montenegro courts regarding his potential extradition.
Hot Take: Uncertain Future for Do Kwon
Do Kwon’s extradition case has taken an unexpected turn with the Appellate Court of Montenegro overturning the previous decision to extradite him to the United States. While this is a temporary victory for Kwon, the case will return to the lower courts for another trial and decision. The outcome of this new trial will determine whether Kwon will ultimately be extradited or not.
This latest development adds to the ongoing uncertainty surrounding Kwon’s future. He is facing serious criminal charges related to Terra’s collapse, which led to significant financial losses for investors. Both US and South Korean prosecutors are seeking his extradition, and their hopes of bringing him to justice have been put on hold once again.
The crypto community is closely following this case, as it has far-reaching implications for the industry. Kwon’s involvement with Terraform Labs and his alleged fraudulent activities have raised concerns about investor protection and regulatory oversight within the crypto space.
As we wait for the next trial and decision in Montenegro, the fate of Do Kwon hangs in the balance. Will he be extradited to face trial in the United States or South Korea? Or will he evade justice altogether? Only time will tell.
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