Breaking News

Court in Montenegro Approves Do Kwon’s Extradition to the US or South Korea

Court in Montenegro Approves Do Kwon’s Extradition to the US or South Korea

Table of Contents

A court in Montenegro’s capital, Podgorica, approved Do Kwon, the founder of the Terra ecosystem, extradition to either South Korea or the United States. Montenegro’s Minister of Justice will decide which country Kwon goes to. 

On Friday, a court in Podgorica, the capital city of Montenegro, announced that it approved the extradition of disgraced crypto entrepreneur Do Kwon for extradition. The United States and South Korea are both seeking Kwon’s extradition, and it is now up to the Justice Minister to decide Kwon’s fate. 

Kwon and Associate Found Guilty

Kwon was arrested at an airport in Montenegro in March after attempting to fly to Dubai using falsified travel documents.

Kwon was arrested along with an associate, Han Chang-Joon. Two Costa Rican and Belgian passports, identity cards belonging to Kwon and Joon, and laptops and other digital devices were confiscated during their arrest.

Kwon and Joon were sentenced to four months in jail by a Basic Court in Montenegro. The duo was found guilty of forgery charges. 

After the guilty verdict against them was issued, Kwon appealed to overturn the passport fraud conviction the court imposed. His appeal was, however, rejected last week, and the guilty verdict was upheld. 

Extradition to South Korea Appears More Likely

According to reports by Reuters, the High Court in Podgorica said Do Kwon, a South Korean national, agreed to be deported to South Korea under an abbreviated procedure. However, Montenegro’s justice minister will have the final say on where he is deported. The decision regarding his extradition will only be made after Kwon completes his sentence for document forgery. 

In September 2022, South Korea issued an arrest warrant for Kwon and charged him with violating the Capital Markets Acts. 

United States and South Korea Compete for Extradition

Now that an order of extradition has been granted, the question stands: who will get custody of Kwon?

Kwon is a South Korean national, and the country did issue an arrest warrant for him. US federal prosecutors, however, also indicted Kwon with two counts each of securities fraud, wire fraud, commodities fraud, and conspiracy charges.  

When the question of extradition came into question, Justice Minister Marko Kovac explained: 

“In the case when we receive several extradition requests, determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and the time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors.” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Investment Disclaimer

You may like