Per the Excessive Court docket choice, Do Kwon will likely be launched from jail in Spuž on Saturday however is not going to be allowed to depart Montenegro.
As per native reports, the authorities will confiscate Kwon’s legitimate passport as a safety measure. This choice follows the court docket’s want to handle challenges raised by the Supreme State Prosecution Workplace concerning the method that led to the preliminary approval of Kwon’s extradition earlier within the month.
The prosecution’s objections relate to the process’s expedited nature and query the authorized basis of the court docket’s choice to extradite Kwon.
The pause within the extradition course of allowed Kwon to be extradited to the USA, aligning with Montenegro’s authorities’ preferences. Kwon’s authorized representatives have advocated for his return to South Korea, the place the results for his alleged crimes are much less extreme in comparison with these in the USA.
The nation’s lead prosecutor has pinpointed technical points with how the court docket’s order for extradition was dealt with. This comes after the court docket reversed a previous choice to extradite Kwon to the USA for a civil trial associated to fraud fees by the U.S. SEC, set to start on March 25.
Kwon, alongside Terraform Labs, faces litigation by the SEC following the Might 2022 collapse of the TerraUSD and Luna cryptocurrencies. The fallout is believed to have erased roughly $40 billion from the cryptocurrency market. He was arrested one 12 months in the past in Montenegro for touring on a faux passport.