Terra Founder Do Kwon Faces Extradition: Montenegro Court’s Decision Unveiled

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The Montenegro higher court has made a definitive ruling on the extradition of Do Kwon, co-founder of Terraform Labs, in a case surrounding passport forgery. Sources familiar with the matter reported the court’s approval, indicating a significant legal development in the ongoing case involving Do Kwon and Han Chang-joon, former executives of Terraform Labs, who were sentenced to four months in prison.

Extradition Decision: Montenegro High Court Ruling

The recent decision by the higher court in Podgorica, Montenegro, comes as a result of the request for extradition put forth by both the Ministry of Justice of the Republic of Korea and the Ministry of Foreign Affairs of the United States of America. The court filing on November 24 outlined that the legal prerequisites for Do Kwon’s extradition to both South Korea and the United States have been met, signifying a critical juncture in this international legal saga.

However, the final decision regarding Do Kwon’s extradition will now be in the hands of Montenegro’s Minister of Justice, Andrej Milović. Milović stressed that this decision holds significant political weight and complexity, requiring careful consideration before determining which country will take precedence in the extradition process.

In a recent TV appearance, Milović highlighted the importance of bilateral extradition agreements and emphasized the USA as a primary foreign policy partner, aiming to swiftly establish a legal framework for future extradition cases.

The Global Jurisdiction Tug-of-War Over Do Kwon’s Extradition

Meanwhile, a parallel legal battle is unfolding in the United States, with the court ruling in favour of the Securities and Exchange Commission (SEC) after a detailed evaluation of arguments and expert testimonies. This ruling signifies a progression in the case filed by the SEC against Terra, favouring the SEC’s stance. Notably, the judge approved the SEC’s selected experts and Terra’s own expert, paving the way for the case to proceed towards summary judgment.

Amidst these legal developments, the prices of Terra (LUNA) and Terra Classic (LUNC) have experienced substantial fluctuations in recent days. While both LUNA and LUNC observed a 1% decrease in the last 24 hours, their market behaviours remain closely monitored amid the ongoing legal controversies surrounding Terra and its executives.

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