Do Kwon's Extradition Appeal To South Korea Denied by Montenegro Court

Attain Kwon’s Extradition Enchantment To South Korea Denied by Montenegro Court

A Montenegro charm court docket denied Attain Kwon’s extradition charm on Wednesday to overturn a ruling mandating his extradition to South Korea.

Following a high court docket ruling in Podgorica on March 5, Kwon is determined to be extradited to face prices associated to the give intention of Terra in Can also fair 2022. His accomplice, Han Chang-joon has already been extradited to South Korea.

Kwon’s attorney, Goran Rodic clarified that the ruling is now closing and would maybe no longer be overturned, both by Kwon or the U.S. authorities.

Attain Kwon Extradition Requests by South Korea and the U.S.

Each and each South Korea and the U.S. occupy appealed to extradite Kwon, on the opposite hand, Montenegro’s minister of justice has now given preference to South Korea.

The charm court docket said that South Korea’s search info from was granted over the US’ occupy since it was received earlier. It was furthermore eminent that there’s at remark no region timeline for Attain Kwon’s extradition to South Korea.

Confirmed possibility of the Excessive Court of Montenegro on the extradition of Attain Kwon to South Korea pic.twitter.com/j2Iv95s5wu

— CR1337 (@cryptonator1337) March 20, 2024

“Settling on the charm of the defendant’s counsel, the panel of the Court of Appeals assessed that the first-event court docket had precisely established that the search info from of the Republic of South Korea arrived earlier within the present of arrival when compared to the search info from of the USA, so it precisely assessed this and varied requirements.” the court docket said.

The united states DOJ charged Kwon with eight criminal counts in March 2023 and said it would aloof pursue Kwon’s extradition to the U.S.

The DOJ spokesperson didn’t directly expose if they aloof intend to charm the most stylish Montenegro possibility, on the opposite hand.

Attain Kwon’s Arrest and Terra’s Give intention

Attain Kwon is the architect within the back of the failed crypto venture TerraUSD stablecoin, launched in 2022.

As a stablecoin designed to be a utility token on the blockchain, Terra USD was pegged algorithmically 1:1 to the U.S. buck.

The stablecoin misplaced its pegging, on the opposite hand, ensuing in its give intention alongside LUNA, the Terra sister token.

The united states and South Korean authorities went after Kwon, who escaped to Singapore to support away from South Korean prosecutors from opening his fraud prices.

Kwon was later apprehended in Montenegro and sentenced to four months imprisonment after he was caught trying to flee utilizing a forged Costa Rican passport.

Because it stands, South Korean authorities are escalating efforts to verify Kwon faces prosecution for his alleged fraud instances and tax evasion.

Kwon, who denied the costs, claimed that the $40 billion implosion of the Terra ecosystem resulted from market forces and doesn’t remark any criminal action.

Now that the charm has been rejected, Attain Kwon’s extradition to South Korea also can aloof then be facilitated after his sentencing is concluded on March 23, pending any extra developmens.

Source : cryptonews.com