Former Terraform Labs CEO, Do Kwon, now awaits the final call on his extradition in a foreigner camp in Montenegro, as reported by Montenegro’s Vijesti news outlet.Kwon, who recently completed his prison sentence on March 23, was transferred to a facility designated for foreigners.
According to reports, Kwon underwent a five-hour interrogation by a local inspector before being relocated to the camp. He is expected to remain there until the Supreme Court of Montenegro reaches a decision regarding his extradition to the United States.
Kwon’s local legal representative, Goran Rodić, has condemned the treatment, labeling it as illegal. Rodić intends to file a complaint with the local administrative court. Additionally, Kwon’s passport was confiscated last week, further complicating his situation.
The Montenegrin court’s stance on Kwon’s extradition has been wavering in recent weeks. Despite previous plans for his extradition to South Korea being halted, there is ongoing uncertainty regarding his ultimate destination.
In May 2022, Terra and Luna cryptocurrencies, operated by Terraform Labs, experienced a massive collapse, resulting in the loss of over $40 billion in market value.
This led to legal actions from U.S. and South Korean authorities against Terraform Labs and Do Kwon for alleged fraud and securities law violations.Meanwhile, the U.S. civil trial concerning the Securities and Exchange Commission’s (SEC) fraud charges against Kwon and Terraform Labs is set to commence on March 25.
As the legal proceedings unfold, the fate of Do Kwon and the implications for Terraform Labs remain uncertain.
