Key Points
- Do Kwon is set to remain in the Balkan country until a decision is made, according to the Montenegrin Supreme Court.
- The announcement overturns past decisions from two other courts trying to extradite him.
The Supreme Court of Montenegro has just placed a pause on the founder of Luna/Terra, Do Kwon’s pending extradition to South Korea. Today, the court issued an order that overturned earlier decisions that came from two lower courts fighting to extradite Kwon to his native country.
Do Kwon was arrested in Montenegro and jailed following an attempt to use fake Costa Rican documents on his way to Dubai after being on the run for months. He has been in Montenegrin custody since.
This latest decision is putting a time-out on the South Korea-US war over Kown. Both countries set their eyes on Kwon for criminal charges, including fraud. The issues are related to the $40 billion collapse of the Terra ecosystem back in May 2022.
Kwon was able to postpone the extradition for a whole year, but the Montenegrin Appellate court decided to extradite him to South Korea earlier this month – this would have happened if the country’s top prosecutor stepped in.
The court’s decision overstepped the limits of its power
The other day, the Office of the Supreme State Prosecutor issued a statement in which the entity argued that the court’s decision overstepped the limits of its power.
Also, the prosecutor said that a decision regarding Kwon’s extradition could only be made by the country’s minister of Justice.
The court in Montenegro has now stopped the extradition of Kwon over “significant violations of the provisions of criminal procedure.”
Terraform Labs is scheduled to go on trial next week and it will be faced with charges brought by the US SEC.
The fall of Luna and the stablecoin TerraUSD (UST) occurred back in 2022, and it affected companies including Celsius, Voyager, Three Arrows, and many more.
