Dokwon’s extradition saga takes an unexpected turn
Key Takeaways
- Mr. Do-Kwon faced possible extradition to the United States and South Korea for his alleged involvement in the fraud scheme.
- The Montenegrin Court of Appeal overturned the extradition approval of Dokwon, citing serious violations of the law in the case.
- The case now goes to the Podgorica Basic Court for a retrial.
In a surprising twist of events, Montenegro’s Court of Appeal annulled the previous decision of Montenegro’s High Court on Dokwon’s extradition.Co-founder of Terraform Labs.
This development could have significant implications for Kwon, who was facing possible extradition. USA or Korea.
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The Montenegrin Court of Appeal ruled. December 14th Cancellation of prior approval for Mr. Kwon’s extradition, a decision that sent shock waves through the cryptocurrency community. The official announcement was made on December 19th.
Initially, The Podgorica High Court decided that the legal prerequisites for Kwon’s extradition in November 2023 were met.The final decision on extradition rests with Montenegro’s Minister of Justice.
However, Kwon’s defense team successfully appealed this decision, which led to a significant turn of events.
After carefully reviewing the previous judgment of the Podgorica High Court, the Appeal Court panel concluded: Violation of provisions of the Criminal Procedure Code of Montenegro.
In the appeal by Mr. Kwon’s lawyer, the court emphasized that the previous ruling was as follows. Lack of clear and reasonable basis. The court noted in its statement:
<...> The decision lacks any conclusive factual reasons and the reasons given were unclear, which served as grounds for reversal, so on appeal by defendant’s counsel, the violation is reasonably shown.
Terraform Labs suffered a significant setback in May 2022., resulting in significant losses. U.S. Securities and Exchange Commission (SEC) Allegations that Terraform Labs and Kwon engaged in fraudulent activity As a result Loss of market value of over $40 billion.
Kwon arrested in Montenegro in March 2023When attempting to leave the country using a forged travel document, Triggering extradition request In both the US and Korea.
This legal battle has significant implications for Mr. Kwon. He could potentially face multiple charges in both countries.. The outcome of the retrial in Montenegro is being closely watched by cryptocurrency enthusiasts and legal experts alike.
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