The High Court in Podgorica has ruled to extradite Do Kwon to the United States instead of South Korea, following an Appeals Court directive seeking clarity on his extradition status.
Despite objections from Kwon’s legal defense regarding procedural irregularities, the decision was influenced by a directive from the Appeals Court pressing for a definitive extradition destination.
Kwon, facing charges related to the collapse of TerraUSD and using counterfeit passports to evade arrest, now confronts legal challenges in both the United States and South Korea, including wire fraud, commodities fraud, securities fraud, and conspiracy charges.
High Court spokeswoman Marija Rakovic stated that Kwon’s legal team has three days to appeal the court’s ruling, which includes approving his extradition to the US while rejecting South Korea’s extradition request.
Kwon, along with another individual, was arrested at Montenegro’s Podgorica Airport in March last year for attempting to travel to Dubai with fake passports. Their arrest is linked to allegations of fraud and financial crimes related to Terraform’s digital currency collapse in May 2022.
TerraUSD and Luna suffered a significant loss of market value, approximately $40 billion when they deviated from their $1 peg. Kwon is currently serving a four-month prison term in Montenegro for passport fraud.
Image Credit: Shutterstock
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
