Do Kwon, co-founder of Terraform Labs, faces a major legal development as a Montenegro court has sanctioned his extradition to South Korea or the United States.
The High Court of Podgorica, in a statement on November 24th, confirmed the fulfillment of legal conditions for Kwon's extradition, with the final decision now in the hands of Montenegro's justice minister.
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This judicial decision follows Kwon's four-month jail sentence in Montenegro for using a forged passport in an attempt to flee to Dubai. Charged in June 2023 with using a fake Costa Rican passport, Kwon's extradition will take place after he completes his sentence for document forgery.
Kwon's arrest in March 2023 was linked to the dramatic $40-billion collapse of the Terra ecosystem in May 2022. With extradition requests from both the US and South Korea, he faces potential legal repercussions in both nations.
In the US, Kwon is embroiled in a fraud-related civil lawsuit by the SEC and criminal charges by the Justice Department. Conversely, in South Korea, he could face up to a 40-year jail term for crimes allegedly committed in that country.
Montenegro's highest court has recently dismissed Kwon's appeal, ensuring his continued imprisonment at Spuž prison near Podgorica. Reports highlight the challenging conditions in the prison, including limited outdoor time and inadequate ventilation.
Do Kwon's legal saga intensifies with the Montenegro court's approval for his extradition, positioning him at a critical juncture facing significant legal challenges in either South Korea or the United States.
