The High Court of Montenegro has given its approval for the extradition of Do Kwon, a significant player in the Terra Luna cryptocurrency incident, allowing for the possibility of his transfer to the United States.
After the local Supreme Court reversed the earlier ruling for extraditing Do Kwon to South Korea, a new extradition process had to be initiated.
Montenegro Court Clears Path For Do Kwon’s Extradition
Based on news from South Korean media outlets, it seems that Do Kwon’s chance of returning to the US has grown stronger due to the Attorney General’s firm position, holding the ultimate authority in this matter.
On Wednesday, the High Court in Podgorica, Montenegro decided that Kwon could be handed over to both South Korea and the US, as the necessary legal conditions for extradition had been fulfilled.
Marija Rakovic, the spokesperson for Podgorica High Court, revealed that it would be Justice Minister Andrej Milovic who ultimately decides on the extradition matter.
The ruling from Montenegro’s Supreme Court in November last year overturned the previous extradition decision made by the Podgorica High Court.
At the behest of the Supreme Prosecutor’s Office, the Supreme Court reversed its previous ruling as it was found to be beyond the jurisdiction of that particular court.
The Supreme Court explained that it’s their job to determine if the rules for extradition have been fulfilled, but the power to grant or prioritize extradition rests with the responsible minister.
As a result, the Podgorica High Court was compelled to restart the extradition hearing, leading to Do Kwon’s approval for extradition and ultimately placing the final decision in the hands of Justice Minister Andrej Milovic.
Is Kwon’s Extradition To The US More Likely?
Although the appeal process is still underway, there have been growing rumors that Do Kwon may be more likely to be extradited to the US. This speculation stems mainly from Minister Milovic’s public statements expressing his intent for Kwon to answer charges in American courts.
According to the report, Do Kwon’s defense team will have three days to file an appeal after receiving the translated judgment from the High Court of Podgorica.
In a November interview last year, Minister Milovic highlighted the US as Montenegro’s primary foreign policy ally, implying insights into his stance regarding Kwon’s extradition.
In April 2022, Do Kwon, the co-founder of Terraform Labs, went missing just before the cryptocurrency Terra Luna experienced a crash. He later reemerged in Montenegro after traveling through the UAE and Serbia.
Last year on March 23, at a local airport, authorities caught up with Kwon after finding out that he was in possession of a false passport. He spent the next four months behind bars for using this fake document. Following his prison term, Kwon was moved to a foreign detention center on last month’s 23rd.
As the court case progresses, it’s still unclear what will happen to Do Kwon. The final result could be influenced greatly by the choice of Montenegro’s Justice Minister, Andrej Milovic.
Currently, Luna Classic (LUNC), the native token for the original Terra blockchain, is priced at $0.0001285. This represents a 31% drop in value over the last month. Nevertheless, there has been a modest increase of 1.2% in LUNC‘s price within the past day.
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2024-04-12 01:41