According to breaking information, the Montenegrin Supreme Court of Podgorica decided to extradite Do Kwon to the USA.
Kwon's extradition to the US in March will come just months after a trial jury convicted FTX co-founder Sam Bankman-Fried of fraud.
The collapse of the Singapore-based Terraform company's TerraUSD stablecoin shook the crypto world in the spring of 2022 and played a role in the collapse of FTX.
Kwon is under indictment from the Manhattan U.S. attorney's office, which also prosecuted Bankman-Fried. According to prosecutors, Kwon deceived investors about the Terra blockchain, including its technology and the extent to which it was adopted by users.
The decision came just two weeks after the Montenegrin Court of Appeals overturned the extradition decision. In particular, Do Kwon's legal council objected to the decision, stating that the court did not comply with procedural protocols and violated extradition standards. However, this decision seems to have been invalidated as it was decided to extradite Do Kwon.
In its previous decisions, the Supreme Court stated that the necessary conditions for the extradition of Do Kwon were met and left the authority to decide which of the requesting countries to give priority to the Minister of Justice Andrej Milović.
However, the Court of Appeals pointed out that the Minister of Justice only made the decision in normal extradition proceedings, and the suspect Do Kwon agreed to be extradited under an abbreviated procedure to the countries requesting his extradition.
Do Kwon's defense lawyer, lawyer Goran Rodić, had previously announced that his client should be extradited to South Korea instead of the United States (US) for legal reasons.
*This is not investment advice.