Posted inNews

Terraform’s Do Kwon mounts last ditch effort to avoid extradition: Report

December 7, 2023No Comments

Terraform Labs co-founder Do Kwon has launched his latest attempt to appeal a Montenegrin court's decision that could lead to his extradition from the country.

On December 6 reportLocal state media claimed that Kwon's lawyers had officially appealed the November 24 decision of the Podgorica High Court, which approved that Kwon could be extradited to the United States or South Korea pending a final decision from the Montenegrin Ministry of Justice.

The Ministry of Justice will now consider the appeal and re-examine the initial extradition order and is currently scheduled to make a final decision on the matter by December 15.

According to a report dated November 24 statement From the Podogrica High Court, Kwon expressed that he would prefer to be extradited to South Korea, rather than to the United States.

Do Kwon said he agreed to be extradited to South Korea. Source: Podgorica High Court

Kwon Lawyers first blow to extradition requests from the United States on September 28, claiming that any attempt to deport the embattled co-founder before October 13 would be “impossible” due to his ongoing detention in Montenegro.

Related: Jury in Terraform Labs case should not decide whether cryptocurrencies are a security – SEC

On February 17, the US Securities and Exchange Commission sued both Terraform Labs and Kwon for "orchestrating a multimillion-dollar crypto securities fraud."

Kwon, along with former Terraform Labs CFO Han Chong-joon They were arrested on March 23 at Podgorica airport for traveling with falsified travel documentation when attempting to leave for Dubai.

Kwon was subsequently taken into extradition custody in Montenegro on June 15 and ordered 6 months in prison while the court mulled whether to extradite him to the United States or South Korea.

Magazine: Lawmakers' fear and doubts drive proposed US crypto regulations