US Prosecutors Persist in Legal Battle for Do Kwon’s Extradition

Crypto News– United States prosecutors are set to challenge the recent ruling by the Montenegrin high court, which has directed Terraform Labs’ Do Kwon towards extradition to South Korea.

US Prosecutors Persist in Legal Battle for Do Kwon’s Extradition

According to a March 7 report by Bloomberg, the U.S. Department of Justice (DOJ) affirmed its commitment to pursuing Kwon’s extradition, citing adherence to relevant international agreements and Montenegrin law.

“The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law,” stated the DOJ.

The extradition saga began in March 2023 when both South Korea and the U.S. filed extradition requests for Kwon. However, disputes arose over the sequencing of the extradition process.

Initially, Kwon, the former CEO of Terraform Labs, was slated for extradition to the United States following a ruling by the High Court in Podgorica on Feb. 21.

However, the Montenegro Appeals Court intervened two weeks later, citing “significant violations of the provisions of criminal procedure,” and overturned the lower court’s decision. This reversal redirected Kwon’s extradition trajectory towards South Korea.

Kwon faces eight charges in the U.S., including fraud and market manipulation, stemming from the collapse of the Terra ecosystem, valued at $40 billion. In South Korea, he is accused of fraud and violations of capital markets law.

Reportedly, Kwon’s legal team has expressed his preference for extradition to South Korea to be closer to his family, despite facing a potential 40-year prison sentence there.

Cointelegraph has reached out to the DOJ for additional commentary.