Montenegro Court Dismisses Do Kwon's Extradition Appeal

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by Giorgi Kostiuk

2 years ago

The Constitutional Court of Montenegro has dismissed the appeal by Do Kwon, the South Korean crypto mogul, regarding his extradition ruling.

Dwindling Legal Options for Kwon

Local media reported that the court upheld the earlier decision favoring Kwon’s extradition. The Justice Minister, Bojan Božović, will decide if Kwon will be sent to South Korea or the United States for trial. Kwon's appeal was dismissed due to legal inconsistencies. The court also rejected his claims of procedural unfairness and rights violations.

Kwon’s Fate Hangs in Limbo

Since the May 2022 collapse of TerraUSD (UST) and its token Luna, resulting in a $40 billion market loss, Kwon has been under intense scrutiny. Both the US and South Korea request his extradition, accusing him of financial crimes, including fraud and market manipulation. He was arrested in Montenegro in March 2023 for attempting to travel with a forged passport.

Kwon’s Future in the Hands of Montenegro's Justice Minister

Extradition may send Kwon to the US, where he is charged in connection to the Terra-Luna collapse. The US has also imposed a massive civil penalty on him and his company Terraform Labs amounting to $4.5 billion.

Despite the ruling, Kwon’s legal team is expected to continue resisting extradition. His fate now lies with Montenegro’s Justice Minister.

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