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Montenegro Supreme Court Annuls Kwon Extradition Ruling; Case Goes Back to High Court

Algoine News
Summary:
Montenegro's Supreme Court has overturned a lower court's decision regarding the potential extradition of Terraform Labs' co-founder, Do Kwon, to either South Korea or the U.S. The High Court in Podgorica will now decide on his extradition. Kwon, facing criminal charges in both countries, was arrested in Montenegro in 2023 for using falsified travel documents but is currently free to travel inside the country. Meanwhile, Terraform Labs' former CFO, also arrested in 2023, has been extradited to South Korea. Trials and indictments are continuing against Terraform Labs and its executives in both countries.
Montenegro's highest court has overturned a ruling from the domestic subordinate courts regarding the potential extradition of Do Kwon, Terraform Labs' co-founder, to either South Korea or the United States. Montenegro's Supreme Court indicated, in a statement released on April 5, that they have granted a request for legality protection against a lower court's verdict that could have led to Kwon's extradition to South Korea. The prosecutors who lodged this request asserted that procedural breaches took place when an appeal court rejected an appeal from the legal team representing Kwon, thus shifting the final judgement to the Supreme Court. The ruling stated: "In instances where two nations have overlapping requests for extradition of the same person, as opposed to extraditing the person based on conflicting requests, the court's mission is to determine, within its legal boundaries if the prerequisites for extradition have been satisfied in the defendant's case for each request individually. Following this, the appropriate minister, not the court, makes the decision regarding the extradition's approval and prioritization." The Supreme Court confirmed that the verdict concerning Kwon's extradition will now go back to the High Court in Podgorica, which can then decide whether he is to be extradited to either the U.S, his homeland, or South Korea. Kwon faces criminal penalties in both of these countries, but he has been in Montenegro since his March 2023 arrest due to the use of fabricated travel documents. Reports state that Kwon is currently free to move within Montenegro until a decision is made regarding his extradition case. Despite Kwon's absence, attorneys for the U.S. Securities and Exchange Commission have continued with a jury trial against Terraform and its co-founder in March. Some of what Kwon has previously stated has been entered into the trial record. At the time this was written, the case was still in progress. Meanwhile, Terraform Labs' former CFO, Han Chang-joon โ€” also arrested in March 2023 โ€” has been extradited to South Korea. South Korean officials have indicted several people linked to Terraform Labs, including co-founder Hyun-seong Shin. Related: The upcoming major crypto court cases are revealed in the aftermath of the SBF saga. A 'SEAL 911' group of ethical hackers has been set up to deal with crypto breaches in real time.

Published At

4/5/2024 6:11:51 PM

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