The Supreme Court of Montenegro has overturned a lower court’s ruling on the extradition of Do Kwon, the co-founder of Terraform Labs. This decision follows an appeal by prosecutors regarding the rejection of Kwon’s legal team’s appeal by the appellate court. The Supreme Court’s decision, dated April 5, highlighted procedural errors in the lower court’s handling of extradition requests from both the United States and South Korea.
In its announcement, the Supreme Court emphasized the need for the High Court in Podgorica to conduct an independent assessment of the legal grounds for extradition. While the Supreme Court is not the final authority on extradition orders, it clarified that a competent minister holds such authority. The case has been referred back to the High Court, which will determine whether Kwon should be extradited to the U.S. or South Korea.
Despite facing criminal charges in both countries, Kwon has been permitted to travel within Montenegro pending the extradition decision. His arrest in March 2023 for using forged travel documents has drawn international legal scrutiny. Meanwhile, the U.S. Securities and Exchange Commission (SEC) is pursuing a jury trial against Terraform Labs and Kwon, citing his previous statements in court.
As the legal battle continues, attention is drawn to the complexities of cross-border financial crimes. The decision by the Montenegro Supreme Court marks a new phase in the extradition process, highlighting the intricacies of international legal proceedings.
In addition to Kwon’s extradition situation, Terraform Labs’ former chief financial officer, Han Chang-joon, is facing legal challenges of his own. Arrested alongside Kwon in March 2023, Han has been extradited to South Korea, indicating the country’s firm stance on prosecuting individuals associated with Terraform Labs. South Korean authorities have indicted multiple individuals linked to the company, including co-founder Hyun-seong Shin.