The High Court of Podgorica has approved the extradition of Do Kwon, the Co-Founder and Former CEO of Terraforms Labs, to the US. Kwon faces criminal charges in the US following the collapse of Terraform Labs.

After rejecting South Korea's extradition plea, the Podgorica High Court deliberated over Kwon's fate following a directive from the Court of Appeal, Pobjeda reported. Earlier rulings had indicated conditions favoring Kwon's extradition, leaving the final decision in the hands of Justice Minister Andrej Milović.

However, the Court of Appeal clarified that Kwon, having consented to expedited extradition proceedings, would be subject to the jurisdiction of the requesting countries.

Legal Arguments

Kwon's defense attorney, Goran Rodić, emphasized legal provisions favoring extradition to South Korea, citing international agreements and Montenegrin laws. Rodić contended that prevailing legal frameworks pointed towards South Korea as the appropriate jurisdiction for Kwon's extradition.

However, Justice Minister Andrej Milović framed the decision as politically significant, highlighting the status of the US as a key diplomatic ally. Milović underscored efforts to establish a bilateral extradition agreement, signaling Montenegro's commitment to bolstering international legal cooperation.

Kwon's legal troubles started when he was arrested alongside Terraform Labs' Former Chief Finance Officer, Han Chang-joon, at the Podgorica airport. The duo attempted to board a flight to Dubai using fake Costa Rican passports. Subsequent investigations uncovered additional Belgian travel documents.

International Extradition

Recently, Chang-joon was extradited to South Korea, further intensifying speculation surrounding Kwon's legal fate. The extradition decision of Chang-joon marks the culmination of events following the collapse of Terraform Labs in May 2022. Chang-joon and Kwon are central figures of the controversial crypto project.

Kwon's legal saga took a turn when Montenegro's Appeals Court overturned a decision regarding his extradition. The reversal resulted from procedural errors, leading to a retrial and prolonging the legal uncertainty surrounding Kwon's fate.

Despite previous approval for Kwon's extradition by the Podgorica High Court, uncertainties loom over the process and timeline, exacerbated by a class-action lawsuit involving more than 300 parties. This lawsuit was filed in Singapore after the devaluation of the UST token.