Do Kwon Case Decision Still Unclear When He Was Released From Prison

Key Points:

• Terraform co-founder Do Kwon is set to be released from prison in Montenegro but will remain in the country due to facing criminal charges from multiple countries.
• Montenegro’s High Court ordered the confiscation of Kwon’s passport to prevent his departure from the Balkan nation.
• The Do Kwon case decision comes after a year in custody, during which both the U.S. and South Korea filed competing extradition requests for him.

Terraform co-founder Do Kwon is set to be released from prison in Montenegro following a decision by the country’s High Court. However, he will not be able to leave the Balkan nation as he faces criminal charges from multiple countries.

Terraform Co-Founder Do Kwon to be Released from Montenegro Prison

The High Court ordered Kwon’s passport to be confiscated to prevent him from departing the country, as reported by Montenegrin daily newspaper Vijesti. Kwon is scheduled to leave Spuž prison on Saturday, according to the court’s order.

This development comes after Montenegro’s Supreme Court intervened, pausing Kwon’s pending extradition from the Balkan country. The Supreme Court’s order overturned earlier Do Kwon case decisions from lower courts to extradite him to South Korea, his native country.

Kwon has been in Montenegrin custody since March 2023, following his arrest for attempting to use fake Costa Rican documents while en route to Dubai after months on the run. The Do Kwon case decision effectively halts the extradition tussle between South Korea and the United States, both of which seek to try Kwon for criminal charges related to the $40 billion collapse of the Terra ecosystem in May 2022.

Do Kwon Case Decision Was Made In The Context Of The Extradition War Between The US And Korea

Kwon will leave prison on March 23 after approximately a year in custody, but he will surrender his travel documents to prevent leaving the country. The Council of the Supreme Court will review a decision regarding his extradition to South Korea.

Kwon’s arrest in Montenegro occurred alongside Terraform Labs‘ former chief financial officer, Han Chang-joon. Both the U.S. and South Korea have filed competing extradition requests for Kwon, who faces fraud charges in both countries. However, the final Do Kwon case decision on his extradition destination remains uncertain.