Terra Vs SEC : Navigating Do Kwon’s Extradition Proceedings

In a recent development from Podgorica, Montenegro, the legal case involving Terraform Labs co-founder Kwon Do-hyung, also known as Do Kwon, has reached a new turning point. The Montenegro High Court has approved his extradition, responding to requests from both the United States and South Korea. This decision has been promptly met with an appeal by Kwon’s legal team.

Court Decision:

The High Court of Montenegro, on November 24, authorized the extradition of Kwon Do-hyung, aligning with the extradition requests from the US and South Korean authorities who are pursuing Kwon for alleged financial misconduct linked to Terraform Labs. Challenging this decision, Do Kwon filed an appeal on December 6, as reported by Digital Assets, a South Korean media outlet. Kwon expressed his disagreement with the court’s decision, stating, “I do not accept the court’s decision to extradite me.”

Legal Process:

Marija Rakovic, the press officer of the Podgorica High Court, emphasized that individuals in extradition cases, such as Kwon, are entitled to appeal court decisions. The Montenegro Court of Appeals is now tasked with revisiting the extradition ruling considering Kwon’s appeal, potentially delaying the final decision on his extradition, which was previously scheduled for December 15.

Detention and Public Attention:

Since the June 15 order for Kwon’s detention pending extradition, he has been held in custody, with this period set to end on December 15, marking six months of detention. The case has attracted significant attention in Montenegro, with local journalists reporting a general feeling of burden among judiciary and government officials due to the high-profile nature of Kwon’s case.

Conclusion:

Despite the appeal, there is speculation that Kwon is likely to be extradited to either Korea or the United States by January next year. Amidst these developments, there have been queries regarding Kwon Do-hyung’s willingness to comply with the extradition judgment, raised by various parties including the Montenegrin court, the Ministry of Justice, and Kwon’s legal representatives.