Terraform Labs co-founder Do Kwon is set to be extradited to the United States after a Montenegrin court's final decision.
What Happened: The Podgorica High Court denied South Korea's request to extradite Kwon, according to local reports.
The court's decision followed directives from the Appeals Court to determine whether Kwon should be extradited to South Korea or the United States.
Initially, the High Court had confirmed the prerequisites for Kwon's extradition, leaving the final decision to Justice Minister Andrej Milović, who was to prioritize between the requesting states.
However, the Appeals Court clarified that the Justice Minister's decision-making authority applies only in standard extradition procedures, noting that Kwon had agreed to be extradited in a streamlined process to the countries seeking his extradition.
Defense's Preference For South Korea
Do Kwon's legal defense, led by attorney Goran Rodić, had previously argued for his client's extradition to South Korea over the United States, citing various legal and international agreements favoring such a decision.
Rodić pointed out that according to the European Extradition Convention, the bilateral agreement with the U.S., and Montenegrin law, Kwon should be extradited to South Korea when such a decision is made.
Also Read: MicroStrategy's Michael Saylor Vows To 'Hold Forever,' Eyes Bitcoin's Long-Term Dominance
Political Implications And Minister's Remarks
On the other hand, Milović highlighted the political nature of the extradition decision, emphasizing the United States as Montenegro's primary foreign policy partner.
Milović expressed a desire to sign a bilateral extradition treaty with the U.S. to establish a legal framework for future extraditions.
Do Kwon and his associate Han Chang Jun were arrested on March 23 last year at Podgorica Airport while attempting to fly to Dubai with fake Costa Rican passports.
During a search, Belgian travel documents were also found in their possession.
Court Proceedings And Forged Documents
During the court proceedings for document forgery, the Koreans claimed they had traveled globally with the passports obtained through an agency in Singapore, without questioning their authenticity.
Kwon admitted noticing discrepancies in the names and birthdates on the Belgian passports but did not use them due to these errors.
Han Chang Jun was extradited to South Korea 10 days prior to this latest development, marking another chapter in the legal challenges facing Do Kwon and his associates.
Read Next: Crypto Crusader John Deaton Battles Critic Elizabeth Warren In High-Stakes Senate Race
Image created using artificial intelligence with MidJourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.