hold or not - Final Verdict on Do Kwon Extradition to Be Released This Weekend

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News Final Verdict on Do Kwon Extradition to Be Released This Weekend 32 mins ago - Around 2 mins mins to read

Key Points:

Montenegro’s Minister of Justice, Bojan Božović, announced that a decision on Do Kwon extradition will be finalized and signed by the end of the week.

Do Kwon faces extradition requests from South Korea, Singapore, and the U.S. for his role in the 2022 collapse of the Terra Luna cryptocurrencies.

The Minister of Justice, Bojan Božović, said that a decision on Terraform Labs co-founder Do Kwon extradition is reached and should be signed by the end of the week.

Read more: Do Kwon Extradition Now Set By Court After Fierce Litigation

Montenegro to Sign Decision on Do Kwon Extradition by End of Week

Božović stated that he was confident the decision would be made public by Sunday. Kwon had been wanted by several countries and was arrested in the capital city of Podgorica last March 2023.

Kwon has indictments from South Korea, Singapore, and the United States on grounds of involvement with the collapse of the Terra Luna and Terra cryptocurrencies in May 2022, accruing losses amounting to more than $40 billion. An Interpol red notice against him was issued in September 2023, thus further complicating his legal situation.

The Supreme Court of Montenegro ruled on September 19, 2023, that conditions were met for extraditing Kwon to either South Korea or the U.S.

Since this ruling, which has given the green light for the Minister of Justice to decide which of the two countries takes priority in Kwon’s extradition, various countries’ authorities have waited anxiously for the final decision regarding Do Kwon extradition.

Do Kwon Case Evidence Unearthed in Prison Search

To this end, local media in Montenegro reported that investigators found laptops, mobile phones, and access codes linked to virtual wallets and blockchain accounts during a search of Kwon’s belongings in Spuž prison. These are likely to be significant during the lengthy investigation and court case.

Kwon was arrested along with his associate Chang Yun Han at Podgorica Airport on 23 March 2023. Both were sentenced to terms in prison in Montenegro some time later. Yet, their litigation has remained international in scope, with continued serious charges abroad recently after the Terra Luna collapse that devastated investors and sent shockwaves through the cryptocurrency world.

do kwon Do Kwon Extradition Montenegro South Korea

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Final Verdict on Do Kwon Extradition to Be Released This Weekend - Coincu