US authorities are seeking to challenge the recent verdict by the Montenegrin high court, which ordered the extradition of Do Kwon to South Korea rather than the United States.
US prosecutors want Kwon extradited and to face prosecution for his role in the 2022 collapse of the Terra Luna ecosystem. Let’s explore more about this news.
US Prosecutors Continue to Push for Do Kwon’s Extradition
Recent reports claim that US authorities will “continue to seek Kwon’s extradition following relevant international and bilateral agreements and Montenegrin law.” Prosecutors said in a statement, “The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.”
High Court of Montenegro decides to extradite #DoKwon, founder of Terra, to South Korea 🇰🇷 instead of the U.S. 🇺🇸 He faces criminal charges in both countries for TerraUSD and Luna collapse, totaling $45 billion market cap loss. Arrested with forged passports a year ago. pic.twitter.com/23Glc6tM1Y
— Crypto.Anu🌐🪬 (@CryptoAnu_) March 8, 2024
The U.S. and South Korea submitted requests for Kwon’s extradition in early March 2023. However, both countries have sought to get him first. A previous ruling by the Podgorica High Court ruled for Kwon’s extradition to the US on February 21. However, the Montenegro Appeals Court overturned the ruling. It cited “significant violations of the provisions of criminal procedure.” The ruling also handed Kwon to South Korean authorities.
US to Appeal to the Supreme Court
Some reports claim US authorities could take their case to the Supreme Court of Montenegro. This is the country’s highest court. However, it appears Kwon’s camp favors a return to South Korea as it keeps him closer to his family.
Terra's second most important man and Do Kwon's assistant was released in South Korea.
🔶We think Do Kwon will be released in the same way. However, the US approach will also be decisive.
The USA will not leave it like this.#LUNC #USTC
1/2 🧶 pic.twitter.com/C16acs6vZk
— Crypto News Portal (@TerraNewsEN) March 7, 2024
Interestingly, Kwon faces the possibility of a 40-year sentence in South Korea. Korean authorities accused the former Terraform Labs CEO of violating market laws and committing fraud. Meanwhile, US prosecutors have charged Kwon with a series of crimes, including fraud and market manipulation.
Do Kwon was arrested and charged in Montenegro last year for allegedly traveling with fake documents. He was handed a four-month sentence and currently seems set to face a major legal battle in the United States or Canada.
