Montenegro’s Supreme Court has yet again postponed the extradition of Do Kwon, the co-founder of Terraform Labs.
The country’s top prosecutor, Minister of Justice Andrej Milović, requested the delay.
The final call will not be made until a decision revolving around another parallel matter, i.e. protection of legality, is made.
Earlier this month, the Balkan nation’s court of appeals ruled that Kwon would be extradited from Montenegro to his native South Korea, instead of the US.
Both countries have been wanting to try Kwon for criminal charges associated with the $40 billion collapse of the Terra ecosystem in May 2022.
Kwon absconded from authorities on the heels of Terra’s collapse. In September 2022, Interpol rolled out a red notice, hoping to hunt down Kwon.
Half a year later, in March 2023, he was arrested and jailed in Montenegro for trying to use a fake Costa Rican passport to flee to Dubai.
The Terraform Labs co-founder was first given a four-month sentence for using falsified documents. However, he stayed in prison till March this year.
He was subsequently released on bail, sans his real passport. It was confiscated to stop him from flying out.
According to Kwon’s Montenegrin defense attorney Goran Radić, the back-to-back delays and seven court decisions in this case connote a “judicial disgrace.”
Montenegro’s Prime Minister Milojko Spajić was reportedly an early investor in Terraform. He diverted around $75,000 into the company in 2018.
In February, Montenegrin regulators extradited Han Chang-joon, Terraform’s ex-Chief Financial Officer [CFO], to South Korea. He was, notably, arrested alongside Kwon.
