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Do Kwon Wins Second Chance to Appeal Extradition From Montenegro

February 12, 2024 | by stockcoin.net

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Terraform Labs co-founder, Do Kwon, has successfully won a second appeal against the Montenegro High Court’s decision to grant extradition requests from the U.S. and South Korea. Kwon had initially won an appeal to overturn the High Court’s decision in November, but the same court later upheld the extradition requests in December. Kwon’s lawyer had stated that his client would be appealing the High Court’s decision. This victory represents a significant achievement in delaying Kwon’s potential extradition. Former Terraform Labs CFO, Han Chang-Joon, was extradited to South Korea earlier this week. Kwon’s case stems from criminal charges brought against him after the collapse of Terraform Labs’ stablecoin, TerraUSD. As Kwon serves his sentence in Montenegro, local authorities must approve his eventual extradition and determine the destination.

Title: Do Kwon Wins Second Chance to Appeal Extradition From Montenegro

Background Information

Do Kwon, the co-founder of Terraform Labs, has won a second appeal against the Montenegro High Court’s decision to uphold the extradition requests from the U.S. and South Korea. This comes after Kwon initially won an appeal in November to overturn the High Court’s decision. However, the same court later ruled in December that the requests were valid.

Terraform Labs is a company that experienced a collapse of its stablecoin, TerraUSD, in May 2022. Following this collapse, criminal charges were brought against Kwon by authorities in South Korea and the U.S.

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Montenegro plays a crucial role in this case as it is the country where Kwon was arrested. The extradition process is currently underway, and Montenegrin authorities hold the power to approve Kwon’s extradition and determine the destination.

Previous Appeal and Extradition Requests

Kwon’s first appeal, which took place in November, was successful in overturning the High Court’s decision to uphold the extradition requests. However, in December, the court revisited the case and decided that the requests for extradition were valid. This led to Kwon’s lawyer announcing a second appeal.

Kwon’s Lawyer Announces Second Appeal

Kwon’s lawyer, Goran Rodic, announced that his client would be appealing the High Court’s decision for a second time. According to Rodic, there is political pressure on local courts to push for Kwon’s extradition. The second appeal is seen as a necessary step to fight against this pressure.

Extradition of Former CFO

Han Chang-Joon, the former CFO at Terraform Labs, has already been extradited to South Korea by Montenegrin authorities. This extradition has significant implications for Kwon’s case, as it demonstrates the authorities’ willingness to comply with extradition requests.

The fact that Kwon has won a second appeal against his own extradition increases the chances of him avoiding a similar fate to his former CFO.

Significance of Second Appeal

The second appeal holds great importance for Kwon’s case. It not only provides him with a second chance to fight against his extradition but also impacts the overall extradition process. The decision made by the High Court regarding this appeal will play a crucial role in determining Kwon’s future.

The defense’s legal strategy is centered around the second appeal, as it is their best opportunity to prevent Kwon from being extradited. The outcome of this appeal will heavily influence the course of the entire case.

Charges against Kwon

Kwon is facing criminal charges from both South Korea and the U.S. These charges stem from the collapse of Terraform Labs’ stablecoin, TerraUSD, which occurred in May 2022. The collapse led to significant financial losses for investors.

The specific charges against Kwon have not been disclosed publicly, but they are directly related to the collapse of TerraUSD and its impact on investors.

Arrest and Sentencing

Kwon was arrested in Montenegro for possession of falsified official documents. Following his arrest, he was sentenced to four months in prison. Kwon is currently serving his sentence while the extradition process is being finalized.

The possession of falsified official documents suggests that Kwon may have engaged in illegal activities in an attempt to evade authorities.

Approval of Extradition and Destination

The approval of Kwon’s extradition lies in the hands of Montenegrin authorities. They have the power to determine whether Kwon should be extradited or not.

Additionally, these authorities will also decide the destination of Kwon’s extradition. The destination plays a crucial role in Kwon’s case, as it will determine which country’s legal system he will face.

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Update: Terraform Labs Declares Bankruptcy

In an unrelated development, Terraform Labs has declared bankruptcy in Delaware. This declaration adds another layer of complexity to Kwon’s case, as it may impact the future of the company and its relationship with Kwon’s charges.

The bankruptcy announcement further highlights the significance of the second appeal for Kwon, as the outcome of the case could have implications for both Kwon and Terraform Labs.

Conclusion

Do Kwon’s second appeal against his extradition from Montenegro marks an important milestone in his case. The appeal provides him with the opportunity to fight against his extradition and avoid a similar fate as his former CFO.

The outcome of the appeal holds great significance for Kwon, as it will determine his future and the next steps in his case. The charges against him, his arrest, and sentencing have already set the stage for a complex legal battle.

As the extradition process continues, all eyes are on the High Court’s decision regarding the second appeal. The outcome will shape the timeline of the extradition process and determine the next steps in Kwon’s case.

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