The Montenegrin Court approved the extradition of Do Kwon, a key figure in the Terra Luna collapse. Thus, he reignited the legal battle regarding the extradition process, which turned into a snail’s story. This decision came after the local High Court invalidated the previous decision. The file is now before the Minister of Justice to make the final decision.
To which country will Montenegro extradite Do Kwon?
According to local newspapers, the Supreme Court of Podgorica in Montenegro gave the green light to Kwon’s extradition. Accordingly, he stated that the legal criteria for extradition to both Korea and the United States were met. However, the final decision will be made by Minister of Justice Andrej Milovic. According to local daily newspapers Bjesti and Pobeda, the Supreme Court of Podgorica in Montenegro allowed the extradition of Kwon, stating that the legal conditions for his extradition to ‘Korea and the USA’ were met.
On the other hand, Do Kwon’s legal team has the option to appeal within three days. There is speculation that Kwon will likely be extradited to the United States, given that Minister Milovic favored such an outcome. Kwon’s journey from his disappearance after the Terra Luna crash to his arrest in Montenegro via the UAE and Serbia has been a legal drama to be caught up in! Meanwhile, it should not be forgotten that Montenegrin Minister Milovic is an important foreign policy partner of the USA. According to experts, this indicates that the possibility of Do Kwon being extradited to the United States increases.
US SEC accuses Terra founder Do Kwon of fraud
cryptokoin.comAs you follow from , the U.S. Securities and Exchange Commission (SEC) accused Terraform Labs and Kwon of deceiving investors by misrepresenting the stability of their stablecoin TerraUSD and promoting false claims. The collapse of Terra caused losses of $40 billion. It also emerged as a major catalyst in the broader decline of the cryptocurrency market.
After a two-week trial, the federal court issued its decision shortly after closing arguments, Reuters reported. The SEC intends to impose civil financial penalties. It also seeks to obtain orders banning Kwon and Terraform from participating in the securities industry. The collapse of TerraUSD and its associated token, Luna, in May 2022 led to losses exceeding $40 billion. It also triggered widespread turmoil in the cryptocurrency market.
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