The Montenegrin court accepted the appeal of Do Kwon’s extradition

A court in Montenegro has again canceled the extradition of Terraform Labs co-founder Do Kwon, accepting an appeal by Kwon's defense lawyers.

The Court of Appeal of Montenegro accepted Kwon's defense appeal during a panel session on February 7, according to the court's official announcement.

The Court of Appeal announced that the new ruling overturned the previous decision of the High Court in Podgorica on December 29, 2023 and sent the case back to the original court for a decision.

According to the statement, the Court of Appeal confirmed that the decision to extradite the extradition had the effect of a “serious violation of the provisions of the criminal procedure” due to the “incomprehensibility” of the decision.

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The appellate court argued that “the decision has no basis for the relevant facts, and the stated reasons are not clear, which is the reason for its cancellation.”

The latest decision by Montenegro's appeals court to extradite Kwon in May 2022 is another development in a long history of extradition since the fall of Tera. Founder Kwon orchestrated a massive fraud scheme that resulted in billions of dollars in losses for investors.

Kwon was arrested in Montenegro in March 2023 when he tried to use forged travel documents to leave the country. Kwon, a South Korean national, was wanted not only in South Korea but also in the United States.

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The appeals court revoked Kwon's extradition license to the United States or South Korea in mid-December 2023, arguing that the final decision should rest with Montenegro's justice minister.

In other news, former Terraform Labs chief financial officer Han Chang-jun from Terra Saga was transferred from Montenegro to South Korea on February 5.

Daniel Shin, also known as Shin Hyun-seong, founder of Terraform Labs, blamed Terraform's failure on the protocol's operation when he was charged with fraud in South Korea. [Do Kwon]He said.

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