Kwon Do, a co-founder of Terraform Labs, is currently in a waiting phase as Milović, Montenegro’s justice minister, ponders over the possibility of requesting his extradition. The final decision on this matter was recently taken away from the Supreme Court and given to the ministers instead.
In March 2023, Kwon, the accused, was apprehended by authorities using forged travel papers. Both the United States and South Korea have put in extradition requests to bring him to justice as a suspected wrongdoer in the fraud incident that unfolded when TerraUSD broke its peg back in May 2022.
After the Supreme Court agreed to reconsider Kwon’s challenge against the initial order for his extradition to South Korea, this latest ruling restricts him from leaving Montenegro until the ongoing investigation is finished. However, we haven’t received any updates on possible appeals from Kwon’s legal team regarding the recent decision. In February, Han Chang-joo, Terra’s CFO, was among those handed over to South Korean authorities.
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2024-04-12 02:12