Montenegro’s Supreme Court has referred Do Kwon’s extradition case

Montenegro’s Supreme Court has sent Do Kwon’s extradition case back to a lower court for further review. The High Court in Podgorica will now determine whether the Terraform co-founder will be extradited to the United States or his native South Korea to face criminal charges.

The decision follows an April 5 notice from Montenegro’s Supreme Court, which approved a request for a review of the lower court’s decision regarding Kwon’s extradition. Prosecutors argued that the appellate court had not followed proper procedure in rejecting an appeal from Kwon’s legal team. The Supreme Court emphasized the need to individually assess the legal conditions for extradition in cases involving competing requests from different countries.

The extradition decision now returns to the High Court in Podgorica, where the fate of Kwon will be determined. He faces criminal charges in both the U.S. and South Korea but has remained in Montenegro since his arrest in March 2023 for using falsified travel documents. Kwon is reportedly free to travel within Montenegro pending the outcome of his extradition case.

Meanwhile, the U.S. Securities and Exchange Commission has proceeded with a jury trial against Terraform and its co-founder, despite Kwon’s absence. Some of Kwon’s previous statements have been presented as evidence in the ongoing trial.

While Kwon remains in Montenegro, Terraform Labs’ former chief financial officer, Han Chang-joon, who was also arrested in March 2023, has been extradited to South Korea. South Korean authorities have indicted several individuals associated with Terraform Labs, including co-founder Hyun-seong Shin.