Montenegro Confirms Extradition of Do Kwon to South Korea
Do Kwon, co-founder of Terraform Labs (TFL), is set to be extradited to South Korea. The final decision was made by the Montenegrin Court of Appeals, reports Radio Free Europe.
In early March, the High Court of Podgorica approved the entrepreneur’s extradition to the Korean authorities.
The Supreme State Prosecutor’s Office of Montenegro opposed the extradition of Do Kwon to South Korea. According to the department, the court exceeded its authority by conducting a “shortened” legal procedure in issuing the ruling.
The oversight body also noted that the Court of Appeals did not hear the prosecutor in the appeal process, violating the law.
“The Supreme State Prosecutor’s Office proposed that the Supreme Court recognize the validity of the request for legal protection and issue a verdict altering the decision [on extradition],” the statement said.
The Supreme Court of Montenegro ruled to postpone the extradition of the TFL co-founder to South Korea until a decision is made on the prosecutor’s request.
On March 23, 2023, Montenegrin police arrested Kwon and former TFL CFO Han Chang-Joon as they attempted to fly from Podgorica airport to Dubai using fake passports.
Kwon faces numerous charges in Korea, including violations of capital markets law.
In the United States, he is involved in a fraud case led by the SEC and the Federal Prosecutor’s Office in New York.
In November, the High Court approved the extradition of the former TFL head, giving Justice Minister Andrej Milović the option to choose the country. The appellate court overturned this decision, deeming it contrary to the law.
In February 2024, the High Court ruled to extradite the entrepreneur at the request of the United States. This ruling was also overturned following an appeal.
Kwon, a Korean citizen, sought extradition to his homeland.
“We are satisfied with the decision of the Court of Appeals, which showed that the rule of law is being upheld, unlike other state bodies and institutions involved in this extradition process,” stated former TFL head’s lawyers Goran Rodić and Marija Radulović.
According to the lawyers, Montenegrin and Korean law enforcement are negotiating the date and conditions of the transfer. The extradition will be possible after March 23, when Kwon completes a four-month prison sentence for document forgery.
Earlier, the former TFL CFO was extradited to Korea in early February.
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