The co-founder of the bankrupt company Terraform Labs, Do Kwon, is planning to be extradited to the United States. This is reported by WSJ citing its sources in the Ministry of Justice of Montenegro.
According to the publication, the country’s authorities decided to extradite Do Kwon to US law enforcement agencies. South Korea, of which he is a citizen, is also seeking his extradition.
It is alleged that the Minister of Justice of Montenegro, Andrej Milovic, during closed discussions, announced his intention to hand over Do Kwon to US authorities. He allegedly told the American Ambassador to Montenegro Judy Rising Reinke about his decision.
In November 2023, the Supreme Court of Podgorica approved the extradition of Terraform Labs co-founder Do Kwon. It is expected that the decision to send him to the United States or South Korea will be made by the Ministry of Justice.
Do Kwon’s lawyers have filed an appeal against the extradition decision, reports the RTGG portal. A final decision on this case may be made until December 15, 2023.
The co-founder of Terraform Labs was arrested in Montenegro at the end of March 2023. He tried to leave the country using a fake passport.
The United States and South Korea demanded Do Kwon’s extradition. He is accused of fraud and violation of current legislation.
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