Montenegro Court Rejects Do Kwon’s Appeal; Terra’s Daniel Shin Arrest Reviewed

A Montenegro court rejected Terra co-founder Do Kwon’s appeal against extending detention to 30 days. On March 25, lawyers representing CEO Do Kwon and CFO Han Chang-joon filed an appeal against the court’s decision to extend the detention period.

Montenegrin lawyer representing Do Kwon’s passport forgery case said extradition to either South Korea or the U.S. will take months or years. Lawyers Voislav Zetsevich and Branko Angelich are likely to appeal the legal defense in a high court and even in the Montenegro Supreme Court.

On March 29, Montenegro’s Minister of Justice Marko Kovac stated the extradition decision will be taken in a separate court proceeding after the passport forgery case. Moreover, extradition depends on several factors, including the severity of crimes, location of committed offenses, sequence of requests, and nationality.

“Extradition is not a matter to be judged only legally, but will be greatly influenced by international politics and diplomatic relations.”

No matter which country has more rights, the extradition will be inevitably delayed. Many legal experts think South Korea has more chances, but the U.S. advantage. Moreover, Do Kwon can also consider his legal right to appeal to any country that Montenegro decides to extradite to.

South Korea’s Seoul Southern District Prosecutor’s Office said they filed an extradition request to Montenegro on March 24, while the U.S. filed a request on March 25, reported a South Korean news outlet.

Meanwhile, South Korean Embassy officials confirmed that Do Kwon “is in good health.” Embassy officials have also met with Montenegro officials and requested their cooperation in the extradition of Kwon.

Terra Co-Founder Daniel Shin’s Arrest Warrant Under Review

South Korea’s Seoul Southern District Court began the arrest warrant review for Daniel Shin, co-founder of Terra and former CEO of Chai Corp today.

Earlier on March 27, South Korean prosecutors confirmed starting the process to arrest Daniel Shin after Do Kwon’s arrest in Montenegro. Prosecutors allege Daniel Shin for violating several laws including the “Capital Market Act,” “Aggravated Punishment Act for Specific Economic Crimes”, the “Electronic Financial Transactions Act”, and the “Specific Financial Information Act.

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