Terraform Labs’ co-founder, Do Kwon, is on the brink of extradition to the United States from Montenegro. This development follows a decisive ruling by a high court and the endorsement from a top official. According to The Wall Street Journal, Justice Minister Andrej Milovic has confidentially agreed to the extradition, signifying a crucial twist in Terraform Labs’ continuing narrative and its profound repercussions on the crypto economy.
High Court Approves U.S. Extradition of Terraform Labs Co-Founder Do Kwon Amid Fraud Charges
The Wall Street Journal released an exclusive report on Thursday regarding Do Kwon’s extradition. This follows the judgment of a Montenegrin high court, which received subsequent support from Justice Minister Andrej Milovic during closed-door and private conversations. Insiders reveal that the high court has consented to the U.S.’s extradition request and plans to transfer Kwon to American soil.
The path to extradition for Kwon has been complex, with the possibility of him being extradited to either South Korea or the U.S. Though Kwon consented to be extradited to South Korea, which added complexity to the case, the ultimate decision lay in the hands of Montenegrin officials. They now appear inclined to grant the U.S.’s extradition request. The Journal’s Alexander Osipovich and Marko Vešović stated:
Montenegro’s top justice official has privately said he plans to send disgraced crypto tycoon Do Kwon to the U.S. rather than South Korea to face criminal charges, people familiar with the matter said.
The charges from the U.S. against Kwon are extensive and multifaceted, including accusations of commodities fraud, securities fraud, wire fraud, and conspiracy to commit fraud and manipulate the market. The U.S. Securities and Exchange Commission (SEC) has leveled these charges, alleging that Kwon deceived investors through his operations at Terraform Labs. Despite facing these significant legal hurdles, Kwon has steadfastly refuted all claims of fraudulent conduct.
What do you think about the insiders who say Montenegro plans to send Do Kwon to the United States? Share your thoughts and opinions about this subject in the comments section below.