The extradition of Terraform Labs’ Co-Founder, Do Kwon, to South Korea has hit a roadblock as Montenegro’s Office of the Supreme State Prosecutor challenged against the court order yesterday (Thursday).
The country’s top prosecutor argued that the High Court’s decision to extradite Kwon to South Korea instead of the United States was done in an “abbreviated proceeding” and exceeded the limits of the court’s reach. Interestingly, when hearing an appeal from Kwon’s lawyers, an appellate court subsequently confirmed the decision to the High Court.
The Balkan country’s prosecutors further requested protection of legality before the Supreme Court to stop the extradition of Kwon to South Korea. The prosecutors further argued that only the Supreme Court can decide in this case.
“The court, contrary to the law, conducted abbreviated, instead of regular proceedings and by exceeding the limits of its powers, made a decision on the extradition permit, which is the exclusive competence of the Minister of Justice,” the translated letter by the prosecutor stated.
The tussle came only a day after an appeal court rejected the plea to block the extradition of Kwon to South Korea, where he could face “several criminal offenses.” Kwon is a citizen of South Korea.
The US or South Korea?
However, the United States also wants to extradite Kwon from Montenegro. The US prosecutors brought eight charges and might move forward with prosecuting him even without his physical presence. The US Securities and Exchange Commission also brought civil charges against Terraform Labs and Kwon.
Following the collapse of the two Terraform Labs’ cryptocurrencies, TerraUSD and Luna, in 2022, Kwon disappeared from public view. The US and South Korean authorities blamed him for the nearly $37 billion wipeout of the crypto market, which later caused the collapse and bankruptcy of several other projects. Kwon was arrested last year in Montenegro while traveling with false documents.
Interestingly, other top associates of Terraform Labs, including co-founder Hyun-seong Shin and Chief Financial Officer Han Chang-joon, were arrested with Kwon and were extradited to South Korea last month.
The extradition of Terraform Labs’ Co-Founder, Do Kwon, to South Korea has hit a roadblock as Montenegro’s Office of the Supreme State Prosecutor challenged against the court order yesterday (Thursday).
The country’s top prosecutor argued that the High Court’s decision to…
