Former Terraform Labs CEO Will Be Extradited to US
Do Kwon, co-founder of Terraform Labs, who has been detained in Montenegro since March 2023, is expected to be extradited to the United States to face charges of fraud.
According to a news report from Pobjeda on February 21, the High Court of Podgorica rejected a request to extradite Kwon to South Korea before the United States, following an appeal from his legal team.
The court rejected their argument that the final decision on Kwon’s extradition should be made by the Justice Minister of Montenegro.
It is unclear when Kwon will be extradited to the United States. After Terra collapsed in May 2022, his whereabouts were unknown until he was arrested in Montenegro in March 2023 for using falsified travel documents. While in custody, he has been involved in extradition proceedings.
Both the US and South Korea are vying for the chance to charge Kwon with fraud related to his time at Terraform. The US Attorney’s Office charged him with eight counts of fraud shortly after his arrest.
