Do Kwon’s lawyers again appeal extradition decision

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The legal team representing Do Kwon, co-founder of Terraform Labs, has filed an appeal with the Montenegrin Supreme Court in an attempt to overturn their decision to hand over the entrepreneur for extradition.

Based on The Korea Times report, Do Kwon’s lawyer submitted an appeal following Montenegro’s decision to hand him over to South Korean officials in late April.

According to reports in the media, Kwon’s legal team aims to request extradition to South Korea instead of surrendering him to U.S. law enforcement. Both the United States and South Korea have accusations of fraud against Do Kwon, who is the founder of Terraform Labs.

Kwon’s legal team in Montenegro filed an appeal on April 10 against the decision of the Podgorica High Court, which stated that the requirements for his extradition to both the United States and South Korea had been fulfilled.

The Korea Times report

Yesterday, the Securities and Exchange Commission (SEC) in the United States ordered Do Kwon and his previous firm to pay a total of $5.3 billion. This demand came following their conviction for misleading investors and the failure of the TerraUSD (UST) stablecoin.

For several months, Montenegro’s courts have been making and contesting rulings over the extradition of Do Kwon to South Korea. In early March 2024, an authority gave its approval for the founder of Terraform Labs to be sent to South Korea. But the prosecutor’s office subsequently challenged this decision with an appeal.

On March 23, 2023, at Podgorica airport, law enforcement officials apprehended Do Kwon and his business companion. They were found in possession of false travel documents and intended to utilize them to evade passport control and catch a flight to Dubai.

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2024-04-24 17:16