Court approves Do Kwon’s extradition

In a recent development, a court in Montenegro has approved the extradition of cryptocurrency entrepreneur Do Kwon. The decision now leaves it up to a minister to determine whether he will be handed over to South Korea or the United States, both of which are seeking his extradition.

Do Kwon, who is facing charges in the U.S. for a multibillion-dollar fraud, was also sentenced in June to four months in prison for using forged passports. Upon his arrest, police discovered doctored Costa Rican passports, a separate set of Belgian passports, laptop computers, and other devices in his possession.

Despite denying the charges, the Montenegrin prosecutor pressed against him at a hearing in May, Do Kwon’s lawyers did not immediately respond to requests for comment. However, a spokesperson for the company he founded, Terraform Labs, expressed intentions to fight the “misguided and deeply flawed” U.S. allegations.

According to the High Court in Podgorica, Do Kwon has agreed to be extradited to South Korea through an abbreviated procedure. Nonetheless, the final decision rests with the justice minister due to multiple extradition requests from different states. The court also stated that the decision will be made after Do Kwon completes serving his prison sentence for document forgery.

Furthermore, Do Kwon┬┤s lawyer in Podgorica was not immediately available to comment on the situation.

Do Kwon, a South Korean national and former CEO of South Korea-based Terraform Labs, was detained in late March while attempting to board a flight to Dubai from Podgorica. Following his arrest, the U.S. District Court in Manhattan made the charges against him public, including securities fraud, wire fraud, commodities fraud, and conspiracy.

In late May, a Montenegrin court revoked bail for Do Kwon and his ally, stating that it could not be considered as a solid guarantee, nor their promise that they would not flee once released from detention.

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(This information was reported by Daria Sito-Sucic and edited by Mark Potter)