The founder of Terraform Labs is fighting a court order mandating his extradition to either South Korea or the U.S. for criminal prosecution.
Do Kwon, a former international fugitive, submitted an appeal on Dec. 6, contesting the approval of his extradition issued by a High Court of Podgorica, Montenegro’s capital city
The Terraform Labs founder reportedly stated that he does not submit to the court’s ruling on his transfer to South Korea, his home country, or the U.S., where he is embroiled in litigation with the Securities and Exchange Commission (SEC)
Authorities must now consider his appeal and review the initial extradition order. Kwon’s filing at a Montenegrin Court of Appeal was submitted 11 days before authorities were set to decide his extradition destination on Dec. 15
A Podgorica court previously ordered his removal from the country as crypto.news reported, following his incarceration in a Balkan prison for travel document forgery.
The court sentenced Kwon to four months in jail along with Han Chang-Joon, a former Terra utive. Kwon’s sentence was then increased to six months as authorities bought time to decide where he would be deported. Notably, Kwon’s bid for release from his prison sentence was denied.
According to South Korean media outlet Digital Works, Terra’s previous CEO preferred extradition to South Korea rather than the United States. A local Montenegrin source told the platform that Kwon’s extradition was likely happening in January 2024, barring any delays in court rulings.
Meanwhile, the SEC asked for a summary judgment in its case against Do Kwon. However, Kwon’s lawyers may have additional ammunition to tackle the SEC’s case due to proceedings in a Utah federal court. The SEC faces a potential sanction due to contentious conduct in its case against Digital Licensing Inc.
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Do Kwon appeals extradition decision from Montenegrin high court
The founder of Terraform Labs is fighting a court order mandating his extradition to either South Korea or the U.S. for criminal prosecution.
Do Kwon, a former international fugitive, submitted an appeal on Dec. 6, contesting the approval of his extradition issued by a High Court of Podgorica, Montenegro’s capital city
The Terraform Labs founder reportedly stated that he does not submit to the court’s ruling on his transfer to South Korea, his home country, or the U.S., where he is embroiled in litigation with the Securities and Exchange Commission (SEC)
Authorities must now consider his appeal and review the initial extradition order. Kwon’s filing at a Montenegrin Court of Appeal was submitted 11 days before authorities were set to decide his extradition destination on Dec. 15
A Podgorica court previously ordered his removal from the country as crypto.news reported, following his incarceration in a Balkan prison for travel document forgery.
The court sentenced Kwon to four months in jail along with Han Chang-Joon, a former Terra utive. Kwon’s sentence was then increased to six months as authorities bought time to decide where he would be deported. Notably, Kwon’s bid for release from his prison sentence was denied.
According to South Korean media outlet Digital Works, Terra’s previous CEO preferred extradition to South Korea rather than the United States. A local Montenegrin source told the platform that Kwon’s extradition was likely happening in January 2024, barring any delays in court rulings.
Meanwhile, the SEC asked for a summary judgment in its case against Do Kwon. However, Kwon’s lawyers may have additional ammunition to tackle the SEC’s case due to proceedings in a Utah federal court. The SEC faces a potential sanction due to contentious conduct in its case against Digital Licensing Inc.