A court docket in Montenegro has once more canceled the extradition of Terraform Labs co-founder Do Kwon, accepting the attraction by Kwon’s protection attorneys.
The Appellate Courtroom of Montenegro accepted the attraction of Kwon’s protection in a panel session on Feb. 7, in accordance with an official announcement by the court docket.
The brand new ruling has annulled the earlier determination of the Excessive Courtroom in Podgorica dated Dec. 29, 2023, returning the case to the primary occasion to the court docket for retrial and determination, the Appellate Courtroom acknowledged.
In accordance with the assertion, the Appellate Courtroom discovered that the earlier extradition determination was affected by “important violations of the provisions of prison process” on account of “incomprehensible” wording of the choice.
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“The choice has no motive for decisive information, and the explanations given are unclear, which is the rationale for its cancellation,” the Appellate Courtroom argued.
The most recent determination on Kwon’s extradition by Montenegro’s Appellate Courtroom is yet one more occasion within the lengthy historical past of his extradition course of within the aftermath of Terra’s collapse in Could 2022. In accordance with monetary regulators in South Korea and the US, Terraform Labs and its co-founder Kwon orchestrated a large fraudulent scheme resulting in multibillion greenback losses by traders.
Kwon was arrested in Montenegro in March 2023 whereas trying to make use of falsified journey paperwork to go away the nation. A South Korean nationwide, Kwon was needed not solely in South Korea but in addition in the US.
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The Appellate Courtroom beforehand canceled Kwon’s extradition approval to both the US or South Korea in mid-December 2023, arguing that the ultimate determination ought to be made by Montenegro’s minister of justice.
In different information from the Terra saga, former Terraform Labs chief monetary officer Han Chang-joon was extradited from Montenegro to South Korea on Feb. 5.
In his trial for fraud in South Korea, Terraform Labs co-founder Shin Hyun-Seong, also referred to as Daniel Shin, blamed the Terraform collapse on the operation of the protocol “exterior assaults carried out by Do-hyung Kwon [Do Kwon].”
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