The Appellate Court docket of Montenegro has declined Do Kwon’s attraction to halt his extradition to South Korea, in accordance with a March 20 discover.
In its ruling, the Court docket affirmed the Excessive Court docket’s resolution to deport Kwon, the co-founder of now-defunct Terraform Labs, to face prison expenses in South Korea. These expenses are linked to his alleged position within the collapse of Terra’s algorithmic UST stablecoin, which resulted in vital losses exceeding $40 billion for traders globally.
The Court docket added that its resolution was ultimate and can’t be appealed by any involved events. The discover didn’t present a timeline for when Kwon could be extradited to his dwelling nation.
This resolution marked a major improvement in Kwon’s authorized extradition battle. The method has garnered appreciable worldwide consideration over the previous yr, with america and South Korea in search of custody attributable to his high-profile case.
Why South Korea?
A Montenegrin excessive court docket initially dominated to extradite Kwon to the US. Nonetheless, the Appellate Court docket overturned the choice, citing procedural violations throughout the nation’s prison justice system.
Consequently, the Appellate Court docket ordered a retrial on the Excessive Court docket of Podgorica.
Within the subsequent trial, the Excessive Court docket of Podgorica decided that Kwon needs to be extradited to South Korea, as their extradition request preceded that of the US.
Montenegro’s Appellate Court docket upheld this resolution, stating:
“The panel of the Court docket of Appeals assessed that the first-instance court docket had accurately established that the request of the Republic of South Korea arrived earlier within the order of arrival in comparison with the request of the USA.”
Final month, the European nation deported Terraform Labs’ chief monetary officer, Han Chang-Joon, to South Korea to face prison expenses. Chang-Joon and Kwon had been arrested in Montenegro final yr for touring with falsified official paperwork.
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