Do Kwon Extradition Is Handed Over To Justice Minister With US Capabilities Emerging

Key Points:

• The Montenegro court approves Do Kwon extradition to the US, pending the Justice Minister’s decision.
• Supreme Court’s reversal restarts the extradition process, increasing the likelihood of US repatriation.
• Kwon faces fraud charges in a US lawsuit over a cryptocurrency crash, and the legal battle continues.

According to Yonhap News, a Montenegrin court has once again approved the Do Kwon extradition, an event related to the significant figure in the cryptocurrency Terra Luna crash, leaving the final decision to Justice Minister Andrej Milovic.

Montenegro Court Greenlights Do Kwon Extradition

This decision comes after the local Supreme Court invalidated a previous extradition decision to Korea, restarting the process.

The Montenegrin Supreme Court, responding to the Supreme Prosecutor’s Office, overturned the decision to extradite Kwon to Korea, sending the case back to the Podgorica High Court. The High Court’s decision to permit Do Kwon extradition was deemed to have exceeded its authority, focusing solely on whether legal requirements for extradition were met.

Now, with the Do Kwon extradition process back on track, there’s growing speculation about Kwon’s potential repatriation to the United States, particularly given Minister Milovic’s repeated desire for Kwon to face charges there. Despite Kwon’s ongoing appeal process, the possibility looms larger.

Kwon’s Legal Saga: Fraud Charges and Potential US Repatriation

Terraform Labs and co-founder Do Kwon were previously found liable for fraud in a US government lawsuit stemming from the firm’s 2022 collapse, which saw $40 billion in investor assets vanish. The recent jury verdict in New York found Kwon and Terraform guilty of misleading investors, bolstering the US Securities and Exchange Commission’s oversight of the crypto industry.

Kwon’s side has three days to appeal the recent decision from the Podgorica High Court, with the possibility of further legal twists yet to unfold.