After another successful appeal from Do Kwon’s legal team, Montenegro’s High Court will decide whether to extradite the Terraform Labs co-founder to the United States or South Korea.
According to a May 24 report from Montenegrin news outlet Vijesti, the country’s court of appeals accepted arguments from Kwon’s lawyers and returned the question of extradition to the High Court “for retrial and decision.” The appeal marked the latest legal maneuver Kwon’s team used to delay his transfer to the U.S. or South Korea, where he would face criminal charges.
“If the person whose extradition is sought gives his consent to extradition, it is a shortened procedure that has to be applied and in which case the court decides on extradition,” Montenegro’s court of appeals reportedly said in its decision, adding:
“The first-instance court was obliged to hear the defendant again while ensuring the fulfillment of guarantees that the person whose extradition is sought gave consent voluntarily, was aware of its consequences, and that the given consent cannot be revoked.”
Authorities in Montenegro arrested Kwon in March 2023 for using falsified travel documents while attempting to leave the country. He was sentenced to four months in prison, then released as courts weighed competing requests for extradition from the U.S. and South Korea.
Related: Montenegrin justice minister discussed Do Kwon’s case with SEC
In April, a U.S. court found Terraform Labs and Kwon liable for fraud as part of a civil case brought by the Securities and Exchange Commission. A judge is scheduled to hear proposed remedies from the two parties in a May 29 hearing.
As Montenegro’s courts tussle over Kwon’s extradition, it’s unclear whether he can assist in his defense in person in the U.S. or his native South Korea. If extradited to South Korea, Kwon faces an indictment for fraud and violations of capital markets law.
Magazine: Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower