Embattled Terraform Labs co-founder Do Kwon is set to be extradited to South Korea following the failed extradition bid to the United States.

New Update In Do Kwon’s Extradition Move

According to a recent report, Do Kwon’s South Korean extradition was ordered by a High Court in Podgorica. Per the ruling, the Judge reverses the previous motion of another court in Montenegro that Kwon be extradited to the U.S. 

Kwon’s hearing was initially scheduled for January 29 but was later postponed to this month due to uncertainty about his presence. It was believed that the delay would enable the authorities to extradite the fallen “crypto king” from Montenegro. The SEC proposed April 15 as a new trial date to accommodate scheduling conflicts but Kwon’s lawyer did not want any delay later than March 18.

Extraditions remain a major hurdle that the executives of Terraform Labs have had to navigate recently. Besides Do Kwon, Han Chang-joon, the former financial officer of the beleaguered company, was extradited to South Korea after serving a prison sentence in Montenegro. 

Kwon, through his lawyer, appealed to reject extradition to the U.S. and the request was granted a month ago by the Court of Appeals of Montenegro, overturning the decision made by Montenegro High Court. His lawyer had argued that the “wording of the decision is incomprehensible”, a statement that the appellate court agreed with. So far, there have been several reversals about his extradition to either the United States or South Korea. 

Following the latest ruling in Montenegro, the South Korean National Police agency has put up a request to Interpol on Thursday, to help in bringing Do Kwon to South Korea from Montenegro. 

Is Kwon’s Case in the US Over?

Intricacies in legal hurdles are hard to overcome, even for regulatory bodies like the United States Department of Justice (DOJ). While the extradition bid to move Do Kwon to the US is at a standstill, there is no evidence that the embattled crypto pioneer will be let off the hook easily.

The DoJ has a record of prosecuting offenders even over a long time and Do Kwon may not be an exception. Among the high-profile cases before the regulator is that relating to Binance Founder and former CEO Changpeng ‘CZ’ Zhao whose sentence hearing is due any minute now.

The post Breaking: Do Kwon To Be Extradited to South Korea appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am