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COINTURK NEWS > Cryptocurrency Law > Extradition Delays for Terraform Labs Co-Founder Do Kwon
Cryptocurrency Law

Extradition Delays for Terraform Labs Co-Founder Do Kwon

In Brief

  • Montenegrin prosecutors extend Do Kwon's extradition process.

  • Conflicting court decisions in Montenegro cause legal uncertainty.

  • US and South Korea both seek Kwon's extradition amid ongoing charges.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Montenegrin prosecutors have once again prolonged the process by refusing to accept the court decision regarding the extradition of Do Kwon, co-founder of Terraform Labs, to South Korea.

Contents
The Extradition Process of Do Kwon to South KoreaWill South Korean and US Authorities Reach an Agreement?

The Extradition Process of Do Kwon to South Korea

Approximately two weeks ago, a high court in Podgorica, Montenegro, ruled that Do Kwon should be extradited to South Korea.

This was contrary to a previous request by another court in Montenegro for Kwon’s extradition to the USA. It was considered a victory for Do Kwon and his team, as it was preferred that Kwon be extradited to South Korea according to earlier information.

The reason for Kwon’s team preferring South Korea over the USA was that white-collar crimes are punished with lower sentences in that country.

Shortly after the court announced its decision on Kwon’s extradition, the US Department of Justice (DOJ) raised some objections.

In its objection to Kwon’s extradition to South Korea, the DOJ cited several international agreements and Montenegrin laws.

The fact that both countries have existing charges against Kwon related to Terraform Labs makes the situation more intriguing as the extradition becomes a matter between the USA and South Korea.

The United States continues to request Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin laws. The US appreciates the cooperation of Montenegrin authorities in ensuring that all individuals are subject to the rule of law.

Will South Korean and US Authorities Reach an Agreement?

Do Kwon’s extradition to South Korea was planned to take place on March 24th. However, the High State Prosecutor’s Office pointed out procedural errors and indicated that the case should be moved to the country’s Supreme Court.

The Court of Appeals and the Supreme Court are accused of failing to conclude Do Kwon’s case and for a bad extradition process.

Prosecutors also made a statement indicating that they “exceeded their authority to make extradition decisions, which is the exclusive right of the Minister of Justice.”

According to emerging information, the extradition to South Korea cannot yet be called a final decision. The decision could proceed in the direction desired by Montenegrin government officials, which could lead to extradition to the USA.

Due to the confusion surrounding Do Kwon’s extradition, nothing seems to be finalized until the decision of the Montenegrin Supreme Court.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 22 March, 2024 - 1:10 am 22 March, 2024 - 1:10 am
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