Regulation
Terra Founder Do Kwon South Korea Extradition Delayed By Court
The Supreme Court of Montenegro has delayed the extradition of Do Kwon, the embattled founder of Terraform Labs, to South Korea. This decision came in response to a request for the protection of legality filed by the Supreme State Prosecutor’s Office (VDT) on August 2, 2024.
Supreme Court Delays Do Kwon’s Extradition To South Korea
The VDT’s request seeks to delay the enforcement of earlier decisions by both the High Court in Podgorica and the Court of Appeal. These courts had earlier approved Do Kwon’s extradition to his home country, South Korea. The Supreme Court panel, led by Judge Seka Piletić, determined that the extradition would be postponed until the court can review the VDT’s request.
Moreover, the decision was influenced by concerns raised about potential legal violations in the process leading to the initial rulings. Hence, the VDT requested that the Supreme Court evaluate whether the extradition decisions adhered to Montenegrin law and international treaties. They also requested an evaluation whether the extradition should proceed to South Korea rather than the United States, according Montenegro news outlet Vijesti.
Hence, the Supreme Court’s decision effectively halted the immediate execution of the extradition. This puts the plans of the Montenegrin Police Directorate and Ministry of Justice on hold. This move also adds another layer of complexity to an already convoluted legal saga that has seen multiple court decisions and revisions over the past several months.
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Arguments By Prosecutor’s Office
The Supreme State Prosecutor’s Office submitted the request following a ruling by the Court of Appeal that upheld the High Court’s decision to extradite Do Kwon to South Korea. The VDT argued that there were potential breaches of the Law on International Legal Assistance in Criminal Matters. Hence, they warranted a thorough review by the highest court in the crypto fraud case.
The VDT’s statement explained, “On August 2, 2024, the Supreme State Prosecutor’s Office filed a request for protection of legality before the Supreme Court of Montenegro against the decision of the High Court in Podgorica and the Court of Appeal in the aforementioned case, due to the violation of the Law on International Legal Assistance in Criminal Matters.”
Moreover, the VDT further requested that the Supreme Court temporarily halt the enforcement of these decisions. The prosecutor’s office has requested a final ruling on the legality of the extradition process, which could determine the enforcement.
Terra Founder’s Legal Defense
Do Kwon’s legal representative, attorney Goran Radić, has expressed concern over “inconsistent legal decisions” throughout the extradition process. Furthermore, Radić noted that the prosecution did not object to an earlier decision by the High Court to extradite Kwon to the United States.
However, after that decision was overturned, a subsequent ruling allowed for extradition to South Korea. This places the final decision in the hands of Montenegro’s Minister of Justice. Hence, Radić pointed out that the changes in decisions and the involvement of different authorities in the extradition process have raised questions about the legality and consistency of the actions taken.
He remarked, “Revision of a final decision, which is in favor of the defendant, is not possible except with abuse of position. Since a final decision cannot be changed in a legal way, then there is no point in delaying its execution.” Do Kwon’s defense lawyer also emphasized the broader implications of this case for Montenegro’s legal system.
He highlighted the “judicial disgrace” of having seven separate court decisions regarding Kwon’s extradition, an unprecedented situation in Montenegrin legal history. For context, Do Kwon, who has been in custody in Montenegro since March 2023, is accused of orchestrating a $40 billion crypto fraud. The scheme allegedly involves his companies, Terraform Labs and its associated cryptocurrency, Terra (LUNA).
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Kritika Mehta
Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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