In a significant development for Do Kwon, Montenegro’s top justice official has indicated a preference to extradite Kwon to the United States, rather than his home country South Korea, to face criminal charges.
Do Kwon To Face Charges In The US
Both the United States and South Korea have been preparing for Kwon’s extradition, with prosecutors in both countries eager to bring him to trial for fraud and securities-law violations. The decision by Montenegro’s Justice Minister Andrej Milovic, although not yet officially announced, tilts the scale in favor of the United States.
A Montenegro court had previously sanctioned Kwon’s extradition but left the final destination decision to Milovic. The U.S. charges against Kwon include serious allegations of financial fraud.
In a latest update on December 6, state media in Montenegro reported that Do Kwon’s legal representatives have lodged an appeal against the November 24 ruling of the High Court of Podgorica. Following this appeal, the Ministry of Justice is set to reassess the initial extradition decision. The ministry is expected to deliver its conclusive verdict by December 15.
In a statement dated November 24 from the High Court of Podgorica, it was revealed that Kwon had indicated a preference for extradition to South Korea over the United States.
Since his incarceration in March in the Balkan nation, Kwon has become the center of a global legal battle, with both the United States and South Korea pursuing his extradition. Authorities in these nations aim to prosecute Kwon for alleged fraud and violations of securities laws, linked to the collapse of his TerraUSD and Luna cryptocurrencies in May 2022, which resulted in a $40 billion loss. Kwon holds citizenship in South Korea.
Should Do Kwon be extradited to the United States, the legal proceedings are anticipated to be more transparent compared to those in his home country, South Korea. Recently, in the notable case in the U.S. where regulators successfully prosecuted Sam Bankman-Fried for defrauding investors of billions of dollars.
This is a developing story
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