The Supreme Court of Montenegro has suspended the extradition of Terraform Labs’ co-founder Do Kwon to South Korea. The court endorsed a ruling on his extradition but delayed the legal procedures for the review. This action comes after the prosecutors demanded a review of the files forwarded to them in the previous session.
Do Kwon Extradition Faces Further Delays
Do Kwon‘s problems started when Terraform Labs went under in 2022. In March 2023, the Montenegrin authorities detained him for travelling with forged documents. He was imprisoned for four months before the extradition talks to the US or South Korea began.
In both South Korea and the United States, Do Kwon could be charged with criminal offences and sued for civil damages for fraud connected to Terraform Labs. The prosecution filed a motion on August 2, which paved the way for the most recent delay. The Court of Appeal in Montenegro earlier accepted the extradition decision regarding him.
In 2018, Prime Minister of Montenegro Milojko Spajić bought $75,000 of Terraform tokens. This connection has made the extradition case slightly more complex this time. However, this does not change that the legal process is still centred on Kwon’s criminal activities.
Thus, since his release, Do Kwon has been involved in several legal proceedings. The courts have heard his extradition case many times and have made delayed decisions. There has to be a clear result on whether he will remain in Montenegro or be forcibly transported to another country.
Terraform’s Downfall Triggers Worldwide Legal Actions
In February, South Korea received Montenegro’s extradition of Terraform’s former CFO, Han Joon. In April, a US court ruled in a case filed by the Securities and Exchange Commission that Terraform and Kwon committed fraud. These international legal actions show the various charges made against Do Kwon.
The latest development in the prosecutor’s motion to postpone Kwon’s extradition demonstrates that the case is rather complicated. The appeal before the Montenegrin Supreme Court now concerns the protection of legality. For now, though, Kwon is still very much a mystery.
The legal procedures that are still ongoing stress the worldwide consequences of Terraform’s failure. Do Kwon’s case remains one of the most high-profile and discussed in the sphere of missing persons and criminals. The result will most probably extend its effects to all interested parties.
Also Read: South Korea enacts Virtual Asset User Protection Law, issues NFT guidelines
Credit: Source link
