The Appellate Court of Montenegro has rejected Do Kwon’s appeal to halt his extradition to South Korea, as reported in a notice issued on March 20.
Kwon, the co-founder of now-defunct Terraform Labs, is facing criminal charges in South Korea related to the collapse of Terra’s algorithmic UST stablecoin, which led to losses exceeding $40 billion for investors globally. The Court upheld the High Court’s decision to deport Kwon, stating that their decision is final and cannot be appealed.
This ruling marked a significant turn in Kwon’s legal battle against extradition, which has attracted international attention from countries like the United States and South Korea seeking custody in his high-profile case.
Initially, a Montenegrin high court had ruled in favor of extraditing Kwon to the US. However, the Appellate Court overturned this decision due to procedural violations in the country’s criminal justice system. The retrial at the High Court of Podgorica ultimately led to the decision to extradite Kwon to South Korea, as their extradition request preceded that of the US.
Last month, Montenegro deported Terraform Labs’ chief financial officer, Han Chang-Joon, to South Korea for the same criminal charges. Both Chang-Joon and Kwon were arrested in Montenegro last year for carrying falsified official documents.
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