Do Kwon, co-founder of Terraform Labs (TFL), is set to be extradited to South Korea. This decision was made by the High Court of Montenegro, reports Vijesti.
On March 5, the country’s Court of Appeal overturned the approval for the TFL head’s extradition to the United States authorities.
Previously, lawyers had succeeded in similar petitions regarding Kwon’s extradition to judicial authorities in the US and South Korea on December 19 and February 8 respectively.
According to The Block, on March 7, South Korea’s National Police Agency urged Interpol to assist with Kwon’s extradition. The agency emphasized that their request was made before that of the US.
However, as reported by Bloomberg, US prosecutors will continue to seek Kwon’s extradition.
On March 23, 2023, Montenegrin police arrested Kwon and former Terraform Labs CFO Han Chang-Joon while they attempted to fly from Podgorica airport to Dubai using fake passports.
The arrest was made at the request of law enforcement agencies from the US, South Korea, and Singapore.
Korean authorities have filed numerous charges against Kwon, including violations of capital markets law.
In the US, he is involved in a fraud case led by the SEC and the Federal Prosecutor’s Office in New York.
Earlier in February 2024, Montenegrin law enforcement handed over the former CFO of Terraform Labs to Korean authorities.