Breaking News

Do Kwon Set To Miss Trial Start Amid Extradition Uncertainties

Do Kwon Set To Miss Trial Start Amid Extradition Uncertainties

Table of Contents

The uncertainty around Do Kwon's extradition to the US continues as the Public Information Officer of the Podgorica High Court highlights key reasons that may result in the delay.

Do Kwon's Extradition Uncertainty

The founder of Terraform Labs, Do Kwon, has again gotten entangled in legal complications that might delay his presence at the start of his fraud trial in the United States. His lawyer, David Patton, has indicated potential extradition issues from Montenegro, potentially causing Kwon to miss the trial's outset. However, Patton clarified that Kwon does not intend to seek a postponement of the trial date.

Speculations Surrounding Extradition

Despite the recent decision by the court to extradite Kwon Do-hyung, uncertainties persist due to past reversals by the Court of Appeals. Marija Rakovic, a public information officer of the Podgorica High Court, emphasized the appellate court's authority to revoke the current extradition decision. Rakovic refrained from predicting outcomes but acknowledged the possibility of the court reversing its decision.

Allegations and Legal Proceedings

Kwon faces serious allegations by the US Securities and Exchange Commission (SEC), including wire fraud, commodities fraud, securities fraud, and conspiracy charges related to fraud and market manipulation. These charges stem from the collapse of TerraUSD and Luna cryptocurrencies in May 2022, which led to approximately $40 billion in losses across cryptocurrency markets. 

Since his arrest in March 2023, he has been detained in Montenegro. In January, a U.S. court agreed to postpone his trial till March to allow for sufficient time for him to be extradited to the country.

Extradition Challenges

Despite the court’s recent decision to extradite Kwon Do-hyung, there have been speculations over looming uncertainties as the Court of Appeals has overturned its extradition decision twice earlier.

The recent ruling by the Podgorica High Court approved his extradition to the United States, contrary to his preference for extradition to South Korea, where he also faces charges. 

Kwon's local attorney, Goran Rodic, criticized the ruling, citing flaws and significant delays in the extradition proceedings in Montenegro. Rodic contended that the basis of the ruling was flawed, claiming that it mistakenly presumed the United States had filed its extradition request before South Korea. Additionally, he emphasized substantial delays in Montenegro's extradition proceedings, attributing them to multiple errors by the lower court. Rodic predicts that Kwon's extradition, whether to the United States or elsewhere, is unlikely to occur before the end of March.

Therefore, Do Kwon's legal battles continue as extradition issues potentially delay his appearance at the start of his fraud trial in the United States. 

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