Montenegro Confirms Do Kwon Will Be Extradited to South Korea

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Do Kwon, co-founder of Terraform Labs (TFL), is facing extradition to South Korea. According to Radio Free Europe, the final decision was made by the Montenegro Court of Appeal.

In March, the High Court of Podgorica approved the extradition of Kwon to Korean authorities. Kwon was arrested in March 2023 by Montenegro police along with former TFL CFO Han Chang-joon while attempting to fly from Podgorica Airport to Dubai using fake passports.

In South Korea, Kwon faces multiple charges for violating capital markets laws. In the United States, he is also facing a fraud case led by the SEC and the New York Federal Prosecutor’s Office.

In November, the High Court approved Kwon’s extradition and gave Justice Minister Andrej Milovich the power to choose the country where he will be sent.

However, this decision was overturned by the appellate court, deeming it illegal. In February 2024, the High Court again ruled in favor of Kwon’s extradition to the United States, but this decision was also challenged and overturned.