US prosecutors continue to seek Do Kwon’s extradition: Report

U.S. prosecutors are challenging a recent Montenegrin high court ruling that extradited Do Kwon of Terraform Labs to South Korea.

The US Department of Justice (DOJ) told Bloomberg in a March 7 report that it “continues to seek Kwon's extradition in accordance with relevant international and bilateral treaties and Montenegrin law.”

“The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.”

South Korea and the United States submitted an extradition request for Kwon in March 2023, but have been fighting ever since over who would get the first bite from Apple.

Kwon, who served as CEO of Terraform Lab, was to be extradited to the United States following the February 21 ruling by the Podgorica High Court.

However, two weeks later, the Montenegrin Court of Appeal overturned the lower court's decision, citing a “significant violation of the provisions of criminal procedure,” which sent Khun back to South Korea.

According to the Montenegrin judicial system, the US can appeal to the Montenegrin Supreme Court, which sits above the Montenegrin Court of Appeals, the country's highest court.

Kwon faces eight charges in the US, including fraud and market manipulation, in connection with the $40 billion failure of Terra Ecosystem. South Korea faces allegations of fraud and violation of capital market laws in South Korea.

Kwon's lawyers have previously indicated he would prefer to be extradited to South Korea to be closer to his family, where he reportedly faces up to 40 years in prison.

Cointelegraph has reached out to the DOJ for further comment.

Related: Do Kwon Says SEC Extradition Request Impossible

South Korean prosecutors They issued a warrant for Kwon's arrest in September 2022. In the year It was not revealed until March 2023 when he was arrested by Montenegrin authorities for traveling on a fake Costa Rican passport.

Kwon had a short stint on bail but spent at least four months in jail over the passport issue before being extradited.

Magazine: Blockchain Investigators – Matt Gox's failure saw the birth of Chinalysis