The decision to extradite Do Kwon to either the US or South Korea has been returned to the High Court after the Court of Appeal in Montenegro granted an appeal by the Terraform Labs' Co-Founder and his lawyers.
Kwon's Appeal Granted
Montenegrin news outlet Vijesti reported today (Friday) that the country’s Court of Appeal accepted the arguments from Kwon’s lawyers. This action canceled a previous decision by the High Court and sent the case back for retrial. This move represents the latest legal strategy by Kwon’s team to postpone his extradition to either the US or South Korea, where he faces multiple criminal charges.
The initial ruling from the High Court in Podgorica on April 8, 2024, determined that Kwon, a South Korean national, could beextradited for prosecution. However, the Court of Appeal found that this decision lacked decisive facts. Specifically, the High Court failed to provide valid reasons for its ruling, merely quoting an earlier decision by the Supreme Court without adequate explanation.
The Court of Appeal highlighted the necessity of a clear decision based on legal and factual issues. When multiple countries request the extradition of the same individual, specific criteria guide the decision. These criteria are detailed in various international agreements, including the European Convention on Extradition and the 1901 convention between Serbia and the United States. The first-instance court had not reportedly adequately examined these factors in Kwon’s case.
The High Court will now determine the case, ensuring Kwon's consent to extradition was voluntary, informed, and irrevocable. Montenegro’s High Court now stands at a crossroads. The upcoming decision will determine whether Do Kwon will face justice in the United States or South Korea.
Competing Extradition Requests
In March, Montenegro's Office of the Supreme State Prosecutor challenged the High Court's decision to extradite Kwon to South Korea. Montenegro's top prosecutor contended that the High Court overstepped its authority by opting for an "abbreviated proceeding" to extradite Kwon to South Korea, bypassing a more thorough legal process.
The appellate court upheld the High Court's decision, but the Supreme State Prosecutor sought protection of legality from the Supreme Court, asserting that only the Minister of Justice has the final say in such matters.
The United States has also requested Kwon's extradition, filing eight charges against him and indicating a willingness to prosecute him in absentia. Additionally, the US Securities and Exchange Commission brought civil charges against Kwon and Terraform Labs. Kwon disappeared from public view after the catastrophic collapse of TerraUSD and Luna cryptocurrencies in 2022, which erased nearly $37 billion from the crypto market and led to several project bankruptcies before being arrested in Monetgenro.
This article was written by Jared Kirui at www.financemagnates.com.
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