Do Kwon Extradition Order Postponed Until February 2024

Key Points:

• Montenegro Court overturns Do Kwon extradition due to procedural error.
• Kwon faces a retrial over charges linked to falsified documents and TerraUSD’s 2022 collapse.
• Extradition decision delayed until mid-February; minister to decide U.S. or South Korea destination.

In a significant development, the Court of Appeal of Montenegro has reversed a decision approving the co-founder of Terra Labs and former CEO of Terra Do Kwon extradition to either the United States or South Korea.

Montenegro Court Reverses Extradition Decision for Terra Co-founder Do Kwon

The court granted Kwon an appeal, citing a procedural error where the judge overseeing the case failed to provide Kwon the opportunity to present his stance on the extradition request from the United States—a mandatory step in accordance with the law.

This oversight has led to a retrial, redirecting the case to the Podgorica Basic Court. Kwon, facing charges related to falsified documents, sees this reversal as a pivotal moment in his legal battle. The Appellate Court’s decision on December 14 annulled the High Court of Podgorica’s prior approval of Do Kwon extradition, marking a crucial turn in the case.

Retrial Looms as Do Kwon Faces Charges Following TerraUSD Collapse

The High Court of Podgorica initially determined the legal requirements for Do Kwon extradition in November 2023, leaving the final decision to Montenegro’s minister of justice. However, the recent appeal success by Kwon’s defense prompts a retrial at the Podgorica Basic Court.

Authorities have extended Do Kwon extradition detention until mid-February. The justice minister of Montenegro will ultimately decide whether to extradite him to the United States or South Korea. Both countries have indicted Kwon on charges related to the 2022 implosion of TerraUSD, an algorithmic stablecoin.

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