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Montenegro Appeals Court Overturns Extradition of Terraform Labs Co-Founder Do Kwon 

Montenegro Appeals Court Overturns Extradition of Terraform Labs Co-Founder Do Kwon

On Tuesday, Montenegro’s appeals court overturned the extradition request for Terraform Labs co-founder Do Kwon. This reversal follows reports that Justice Minister Andrej Milovic had informally agreed to the extradition.

Kwon to Remain in Montenegro, Decision Lies With Justice Minister

For the time being, Kwon is set to stay in Montenegro, as the Appeals Court Council, on Dec. 14, overturned the Higher Court in Podgorica’s decision to extradite him to the United States. The case has now been remanded to the lower court for a fresh evaluation and ruling.

The court’s decision to halt Kwon’s extradition was invalidated due to a violation of specific legal protocols as per the Montenegrin Criminal Procedure Code. Notably, the court exceeded its jurisdiction. In Montenegro, a court’s function in extradition matters is merely to verify the legal grounds for such a request.

However, the power to actually suspend or defer the extradition of the ex-CEO of Terraform Labs is not within the court’s remit. This responsibility is solely vested in the Minister of Justice, following the Montenegrin legislation on international legal assistance in criminal matters. Here, the appeals court made a decision beyond its legal capacity, necessitating the annulment.

Confronting significant legal challenges from both the U.S. and South Korea, Kwon has unwaveringly refuted all allegations of fraud. His charges, filed by the U.S. Securities and Exchange Commission (SEC) and South Korean financial authorities, include commodities fraud, securities fraud, wire fraud, and conspiracy to commit fraud and manipulate the market. The ultimate decision to approve or deny Kwon’s extradition lies with the Justice Minister.

What do you think about the appeals court decision concerning Do Kwon’s extradition request? Share your thoughts and opinions about this subject in the comments section below.



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