The extradition issue of Do Kwon, the central figure in the Terra-Luna crash, is escalating into an international legal dispute with increasing likelihood of extradition to the U.S. Recently, the Montenegro Supreme Court ruled that the decision on whether to extradite lies with the Minister of Justice, not the courts, a move that suggests U.S. preferences might heavily influence the outcome due to Justice Minister Andrej Milovic’s public favoring of the U.S. as an extradition destination.
Minister Milovic has openly declared the U.S. to be “our most important foreign policy partner,” supporting the notion that Kwon’s extradition to the U.S. is becoming more probable. This stance significantly diminishes the chances of Kwon being extradited to South Korea, pushing the scales toward the U.S.
Kwon’s legal representatives are vigorously contesting the Montenegro High Court’s ruling, arguing that the decision was improperly influenced by the Justice Minister’s intentions and misinterpreted the law. They assert that the courts have tailored their decisions to meet the Justice Minister’s preference for extradition to the U.S., which they claim lacks legal basis. In response, they have filed an appeal, criticizing the supposed legal manipulations aimed at satisfying the Minister’s request.
Simultaneously, in the United States, legal actions against Kwon continue to unfold. The U.S. Securities and Exchange Commission (SEC) has requested a New York court to impose a substantial fine on Kwon and his company, Terraform Labs. The SEC proposes penalties totaling $5.3 billion for misleading investors, a figure far exceeding the fines suggested by Kwon’s team. The SEC accuses Kwon of not showing remorse for his actions and believes there is a high risk of further violations.
The complexity of these legal proceedings and the discretionary power of the Justice Minister to decide on extradition are expected to significantly influence the final decision regarding Kwon’s extradition. As these factors interact, the likelihood of Kwon’s extradition to the U.S. increases, underscoring the transformation of Kwon’s case from a mere extradition issue into a broader international legal and diplomatic dilemma. Kwon’s team is preparing for ongoing legal battles, indicating the extensive legal and geopolitical implications surrounding his case.
