Terraform’s Do Kwon mounts last ditch effort to avoid extradition: Report

Terraform Labs co-founder Do Kwon has launched his last try to enchantment a Montenegrin courtroom’s choice that might see him extradited from the nation. 

In a Dec. 6 report, native state media said that legal professionals for Kwon had formally appealed the Nov. 24 choice from the Excessive Courtroom of Podgorica, which authorised that Kwon could possibly be extradited to both the US or South Korea pending a last choice by the Montenegrin Ministry of Justice.

The Ministry of Justice will now contemplate the enchantment and reexamine the preliminary extradition order and is at present slated to make a last choice on the matter by Dec. 15.

In accordance with a Nov. 24 assertion from the Excessive Courtroom of Podogrica, Kwon expressed that he would like to be extradited the South Korea, slightly than the the US.

Attorneys for Kwon first hit again at extradition requests from the U.S. on Sept. 28, claiming that any try to deport the beleaguered co-founder earlier than Oct. 13 could be “inconceivable” on account of his ongoing detention in Montenegro.

Associated: Jury in Terraform Labs case shouldn’t determine whether or not crypto is a safety — SEC

On Feb. 17, the U.S. Securities and Change Fee sued each Terraform Labs and Kwon for “orchestrating a multibillion-dollar crypto asset securities fraud.”

At this time we charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion-dollar crypto asset securities fraud involving an algorithmic stablecoin and different crypto asset securities.

— U.S. Securities and Change Fee (@SECGov) February 16, 2023

Kwon, together with former Terraform Labs chief monetary officer Han Chong-joon have been arrested on March 23 at Podgorica airport for travelling with falsified journey documentation whereas trying to depart for Dubai.

Kwon was later taken into extradition custody in Montenegro on June 15 and was ordered to six months imprisonment whereas the courtroom mulled whether or not to extradite him to the U.S. or South Korea.

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