According to local media Pobjeda, the High Court of Podriza in Montenegro ruled that Terra founder Do Kwon will be extradited to the United States to face trial on fraud charges.
After Do Kwon was arrested in Montenegro in March last year, he immediately became the target of extradition from the United States and South Korea. However, reports on February 21 stated that the High Court had rejected the request to extradite Do Kwon to South Korea and ruled that he should be extradited. Extradited to the United States.
A spokesman for the Podliča High Court said Do Kwon's legal team had three days to appeal the ruling, with the Court of Appeal having the final say in the case.
The High Court had originally approved the extradition of Do Kwon in early December last year, but had not decided at that time which country he would be sent to. This ruling was later rejected by the Court of Appeal. Do Kwon's defense lawyer argued that "the reasons for the High Court's approval of the extradition were not clear enough." ” and thus won the appeal.
Since the Terra ecosystem collapsed overnight in May 2022, causing global investors to lose US$40 billion, Do Kwon has embarked on a global escape. In March last year, he was arrested for forging travel documents to leave the country and was later sentenced to jail. He is still in prison in Montenegro.
It is unclear when Do Kwon will travel to the United States. Jury selection for the civil lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Do Kwon and Terra will begin on March 25.
In addition, Do Kwon currently faces criminal fraud charges in the United States, including conspiracy to commit fraud, commodities fraud, securities fraud, wire fraud and conspiracy to manipulate markets.
"Montenegoro court rules: Do Kwon will be extradited to the United States for trial" This article was first published on "Blocker".
