The saga of Terraform Labs co-founder Do Kwon is constantly on the unfold, having a court in Montenegro approving his extradition either to Columbia or even the U . s . States.
Our Prime Court of Podgorica has determined the legal needs for Kwon’s extradition, based on the official statement published around the court’s website on November. 24.
Because the court approved Kwon’s extradition either to the U.S. or Columbia, the ultimate decision on his extradition is going to be produced by Montenegro’s minister of justice, the announcement notes.
Formerly, a court in Montenegro sentenced Kwon to four several weeks in prison after finding him responsible for utilizing a forged passport to try and flee to Dubai via private jet. In June 2023, Kwon was apparently billed with trying to leave the nation utilizing a fake Costa Rican passport.
When the minister of justice enables the ultimate united states the defendant, the extradition will occur following the execution from the criminal sanction announced before within the situation of forged documents, a legal court statement notes.
Related: SEC seeks summary judgment in Do Kwon and Terraform Labs situation
Kwon was arrested in Montenegro in March 2023 for his role within the $40-billion collapse from the Terra ecosystem in May 2022. As both U.S. and Columbia subsequently requested Kwon’s extradition, some prosecutors recommended the Terraform Labs co-founder might be susceptible to multiple sentences both in countries.
Within the U.S., Kwon is facing a fraud-related civil suit in the Registration alongside several criminal charges through the Justice Department within the collapse of TerraUSD and LUNA. If Kwon is extradited to Columbia, he could apparently face a 40-year jail sentence in the united states, where he allegedly committed the majority of his crimes.
A week ago, Montenegro’s greatest court apparently denied Kwon’s appeal, forcing him to stay imprisoned. According to online reports, Kwon is presently being held at Spuž prison close to the Montenegrin capital of Podgorica, where he’s permitted to visit outdoors for just one hour daily. European officials apparently stated the prison is cramped and poorly ventilated.
Magazine: How you can safeguard your crypto inside a volatile market — Bitcoin OGs and experts weigh in
