Fate of Do Kwon Hangs in Balance as Court Rejects Appeal

In a stunning twist to a saga that has gripped the crypto world, the extradition fate of disgraced Terraform Labs founder Do Kwon, now rests solely in the hands of Montenegro’s Justice Minister, following a high-stakes court rejection.

The decision, delivered on Tuesday, thrusted the ultimate authority on whether to send Kwon to the United States or South Korea into the hands of the Balkan nation’s Justice Minister. This recent development added another twist to a legal saga marked by reversals, delays, and political intrigue.

Kwon Legal Labyrinth: From South Korea to the U.S., and Back Again

The court’s rejection of Kwon’s appeal stemmed from a prior ruling by the Supreme Court of Montenegro. In September, the Supreme Court had overturned a decision to transfer the disgraced crypto founder to South Korea, asserting that the final say on extradition rested with Justice Minister Bojan Božović.

Kwon’s legal team, in a bid to alter his trajectory, challenged this ruling, only to be met with a decisive rejection from the Constitutional Court. The legal odyssey began in February when the High Court in Montenegro initially greenlit his extradition to the United States, where he faces charges related to the catastrophic collapse of the Terra-Luna ecosystem in 2022.

However, in a stunning reversal in early March, the court shifted course, opting instead to send the TFL CEO to his native South Korea. This decision ignited a whirlwind of appeals, postponements, and conflicting verdicts, leaving the once high-flying crypto entrepreneur’s future shrouded in uncertainty.

Now, after a series of legal about-faces, the decision of whether the disgraced crypto founder will face justice in South Korea or the U.S. rests solely with Justice Minister Božović. The timeline for this momentous decision remains shrouded in uncertainty.

Kwon: Political Intrigue and Allegations of Undue Influence

The extradition case has become a political lightning rod in Montenegro, ensnared in a web of accusations and alleged conflicts of interest. Former Justice Minister Andrej Milovic ignited a firestorm by accusing Prime Minister Milojko Spajić of favoring extradition to South Korea because of purported financial connections with Kwon.

The plot thickened when Montenegrin media outlet Vijesti reported that Spajić, who took the helm as Prime Minister in October 2023, had made a substantial investment of $75,000 in 750,000 Terra LUNA tokens back in April 2018. Spajić had vehemently denied any personal investment in the ill-fated crypto project until SEC documents surfaced, revealing his name among the early investors in Terraform Labs.

Do Kwon’s defense attorney, Goran Rodić, asserted in a statement to Montenegrin news outlet Pobjeda that Justice Minister Božović, despite his political role, was legally bound to base his extradition decision on established law and international agreements. “The decision should not be political,” Rodić emphasized, citing the Law on International Legal Assistance, the European Convention on Extradition, and other treaties signed by Montenegro as the governing legal framework. Rodić had previously argued to Pobjeda that, based on these legal grounds, his client should be extradited to South Korea rather than the United States.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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