Montenegro Courtroom revokes Do Kwon’s extradition, citing procedural violations.
Former Terra CFO Han Chang-joon extradited to South Korea after Montenegro sentence.
US SEC trial postponed, hinting at authorized manoeuvres amidst extradition proceedings.
In a major flip of occasions, the Courtroom of Appeals in Montenegro has revoked the choice to extradite Do Kwon, the co-founder of Terra, to South Korea and the US. This resolution follows a collection of authorized battles and extradition makes an attempt stemming from prices associated to the collapse of Terra’s stablecoin. It follows an identical resolution by the Appellate Courtroom of Montenegro in November 2023 earlier than the Montenegrin Excessive Courtroom upheld Do Kown’s extradition request for a second time in December.
In the meantime, Kwon’s former CFO, Han Chang-joon, has been extradited to South Korea, dealing with potential life imprisonment.
Extraditing Do Kwon incomprehensible
In granting Do Kwon’s second enchantment in opposition to extradition the Courtroom of Enchantment cited important violations of felony process provisions. The appellate courtroom dominated that the choice to extradite Kwon was incomprehensible and didn’t correctly deal with extradition requests from South Korea and the US.
The appellate courtroom clarified that extradition selections must be made by the courts, not the Minister of Justice, as per the Legislation on Worldwide Authorized Help in Prison Issues. This resolution marks a vital improvement in Kwon’s combat in opposition to extradition, offering hope for a good trial and due course of.
The case has now been returned to the courtroom of first occasion for retrial, indicating a possible reprieve for Kwon in his authorized battle.
Former Terra CFO extradited to South Korea
Whereas Kwon’s extradition battle continues, his former CFO, Han Chang-joon, has been extradited to South Korea after serving a jail sentence in Montenegro.
Chang-joon, arrested alongside Kwon in March 2023 whereas trying to depart the nation, now faces potential life imprisonment in South Korea. His extradition underscores the severity of the authorized penalties tied to the Terra-LUNA disaster, which rocked the crypto market with a staggering $60 billion collapse.
In parallel, the postponement of the civil trial introduced by the US Securities and Trade Fee (SEC) in opposition to Terraform Labs and Kwon hints at ongoing authorized manoeuvres. The delay is probably going aimed toward facilitating Kwon’s extradition from Montenegro, signalling the advanced interaction between authorized jurisdictions and regulatory actions.
As Do Kwon’s extradition battle unfolds, the result stays unsure. Nonetheless, these latest developments underscore the excessive stakes concerned for Kwon, Terra and the broader cryptocurrency business amidst heightened regulatory scrutiny and authorized challenges.