Montenegro’s Minister of Justice, Bojan Božović, has The order was signed Extradition of Terraform Labs founder Do Kwon back to the US
Montenegro’s Supreme Court recently determined that all legal conditions for Kwon’s extradition had been met. After this decision, the Ministry of Justice compared the two requests to determine that the US’s request met the highest legal standards.
Minister Božović subsequently signed the decree approving Kwon’s extradition to the US, denying South Korea’s request.
In a statement, the Justice Ministry outlined its reasoning, noting factors such as the severity of the alleged crimes, the location of their commission, the timing of the requests, and Kwon’s citizenship.
After months of deliberation, the US and South Korea both requested extradition. Recently, Montenegro’s Constitutional Court The unanimous rejection of a proposal Kwon’s appeal to avoid extradition, alleging legal issues.
Kwon’s legal team has raised concerns about extradition, claiming that the Montenegrian justice system violated his fundamental rights by refusing to decide on their requests, infringing on their client’s rights to defense and legal remedy.
End of long-running battle
Kwon is facing significant legal issues in the US. The US Securities and Exchange Commission filed a suit against Kwon and Terraform Labs in February 2023. They claimed that they had misled investors regarding the stability of TerraUSD and its use within a popular Korean mobile payments app.
Kwon was arrested one month later when he tried to leave Montenegro with a fake passport.
The authorities have accused him of various crimes related to the collapse TerraUSD and Luna Tokens that caused losses in excess of $40 billion. In June, the US Court fined Kwon 4.5 billion dollars for failing to resolve the civil suit with the SEC.
South Korea, meanwhile, has expressed an interest in pursuing Kwon. The Appellate Division previously upheld a ruling that South Korea should be given preference over the US for extradition requests.
However, former Montenegrian Justice Minister Andrej Milović argued that Prime Minister Milojko Spajić used the extradition as leverage for a 30-year concession for the country’s airports with South Korea.
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