6 months ago
The Appellate Court of Montenegro has declined Do Kwon’s entreaty to halt his extradition to South Korea, according to a March 20 notice.
In its ruling, the Court affirmed the High Court’s determination to deport Kwon, the co-founder of now-defunct Terraform Labs, to look transgression charges successful South Korea. These charges are linked to his alleged relation successful the illness of Terra’s algorithmic UST stablecoin, which resulted successful important losses exceeding $40 cardinal for investors globally.
The Court added that its determination was last and cannot beryllium appealed by immoderate acrophobic parties. The announcement did not supply a timeline for erstwhile Kwon would beryllium extradited to his location country.
This determination marked a important improvement successful Kwon’s legal extradition battle. The process has garnered sizeable planetary attraction implicit the past year, with the United States and South Korea seeking custody owed to his high-profile case.
Why South Korea?
A Montenegrin precocious tribunal initially ruled to extradite Kwon to the US. However, the Appellate Court overturned the decision, citing procedural violations wrong the country’s transgression justness system.
Consequently, the Appellate Court ordered a retrial astatine the High Court of Podgorica.
In the consequent trial, the High Court of Podgorica determined that Kwon should beryllium extradited to South Korea, arsenic their extradition petition preceded that of the US.
Montenegro’s Appellate Court upheld this decision, stating:
“The sheet of the Court of Appeals assessed that the first-instance tribunal had correctly established that the petition of the Republic of South Korea arrived earlier successful the bid of accomplishment compared to the petition of the USA.”
Last month, the European state deported Terraform Labs’ main fiscal officer, Han Chang-Joon, to South Korea to look transgression charges. Chang-Joon and Kwon were arrested successful Montenegro past twelvemonth for traveling with falsified authoritative documents.
The station Montenegro tribunal rejects Do Kwon’s appeal, clears mode for extradition to South Korea appeared archetypal connected CryptoSlate.
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