Terraform Labs Co-Founder Wins Second Appeal Against Extradition Requests
Terraform Labs co-founder, Do Kwon, has successfully appealed the Montenegro High Court’s decision to uphold extradition requests from the U.S. and South Korea. The case will now be reconsidered by the first-instance court based on the new ruling.
Court of Appeals Reverses Extradition Decision
Kwon initially won an appeal in December, overturning the High Court’s decision in favor of the extradition requests. However, the same court later reversed its decision, reaffirming the validity of the requests. Kwon then filed a second appeal last month.
In January, Kwon’s lawyer stated that local courts were under political pressure to facilitate the extradition process.
Kwon’s recent appeal was granted by the appellate court due to violations of criminal procedure provisions. The court agreed with his legal team’s argument that the decision’s wording was unclear.
The trial court failed to adequately address the extradition requests, and the High Court did not correctly apply the legal provisions of the procedure.
The appellate court clarified that according to Article 29 of the Law on International Legal Assistance in Criminal Matters, the decision on extradition should be made by the Minister of Justice, not through regular procedure.
Former Terra CFO Extradited
Han Chang-joon, Terraform Labs’ former financial officer, has been extradited to South Korea. Han and Kwon were apprehended at Podgorica airport in March 2023 while trying to flee on a private jet after a six-month international manhunt.
Han’s extradition was decided by Montenegro’s Ministry of Justice. He now faces criminal proceedings for multiple offenses related to fraud in financial investment services, investments, and the capital market, which carry a potential life imprisonment sentence in South Korea.
Hot Take: Terraform Labs Co-Founder Wins Second Appeal Against Extradition Requests
Terraform Labs co-founder, Do Kwon, has emerged victorious in his second appeal against the extradition requests from the U.S. and South Korea. The appellate court granted the appeal due to violations of criminal procedure provisions and unclear wording in the previous decision. This ruling sends the case back to the first-instance court for reconsideration. Meanwhile, Terraform Labs’ former financial officer, Han Chang-joon, has been extradited to South Korea and now faces criminal proceedings for various offenses. These developments mark significant milestones in the legal battles surrounding Terraform Labs and its key individuals.
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