Montenegro’s Justice Minister Bojan Božović confirmed {that a} determination had been reached relating to the extradition of Do Kwon, the co-founder of Terraform Labs.
In response to native media stories on Oct. 17, the extradition course of will probably be signed by the tip of this week. The choice comes after a prolonged authorized course of that has been mired in controversy and spanned a number of months.
Božović kept away from offering extra feedback on the specifics of the case and didn’t disclose the place Kwon can be extradited.
He mentioned:
“Because the Minister of Justice, I’ve no additional feedback past what the Supreme Court docket has established.”
Kwon’s authorized troubles in Montenegro first started when he and Terraform CFO Han Chang-joon had been arrested at Podgorica airport in March 2023 for trying to make use of solid paperwork.
The 2 had been sentenced to jail phrases in Montenegro however remained on the heart of worldwide extradition requests as they fought fees overseas for his or her function within the collapse of TerraLUNA in 2022, which induced greater than $40 billion in losses.
Chang-Joon was extradited to South Korea earlier in 2024 after finishing his sentence.
Montenegro’s determination on Kwon’s extradition is predicted to convey readability to a case that has been mired in delays and appeals. South Korean authorities are prone to expedite his return, with no additional avenues for enchantment inside Montenegro following the Appellate Court docket’s closing ruling in August 2024.
If extradited to South Korea, Kwon will face an intense authorized battle, as a number of different Terraform executives have already been indicted, however the nation is seen as comparatively lenient by way of penalties for monetary crimes.
In the meantime, the US has pushed for Kwon’s prosecution on extra extreme fees, together with securities fraud, which suggests he might face a prolonged jail sentence if prosecuted in American courts.
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