Terraform Labs’ Former CFO Extradited to South Korea

by

After months of deliberation, Montenegrin
authorities have extradited Han Chang-joon to South Korea, according to a notice by the Government of Montenegro. The move comes as
both the U.S. and South Korea seek jurisdiction over Kwon to address criminal
charges related to the collapse of Terraform Labs, a multibillion-dollar crypto
enterprise, in May 2022.

The extradition underscores the severity of the
charges, as Chang-joon faces criminal proceedings in South Korea for various financial
offenses. Meanwhile, Do Kwon’s appeal regarding his extradition fate remains in
the hands of Montenegro’s appeals court, adding complexity to the legal matter.

Chang-joon and Kwon, the Co-Founder and Former CEO of Terraforms Labs, were arrested in March 2023 while attempting to travel with falsified documents.
Subsequently, a Montenegro court sentenced them to four months in prison,
sparking a contentious legal battle over their extradition.

The statement from the authorities, translated from
Serbian, stated: “This person was deprived of his liberty in Montenegro on
March 23, 2023, at Podgorica Airport, according to an international warrant
issued for him by Interpol Seoul together with D.H.K., and after serving a
four-month prison sentence in Montenegro for of the committed criminal offense
of document forgery, extradited from Montenegro.”

Meanwhile, the legal saga surrounding Kwon recently took a dramatic turn when Montenegro’s Appeals Court overturned a decision regarding his
extradition to the United States or South Korea.

The reversal resulted from a procedural error
wherein Kwon was denied the opportunity to present his defense against the
extradition requests. This setback marks a crucial moment in Kwon’s legal
battle, which stems from the collapse of Terraform Labs, a multi-billion dollar
crypto venture.

The judge overseeing the matter granted Kwon the
chance to present his stance regarding the extradition requests. Such an
opportunity is mandated by the laws of Montenegro. Consequently, the case was
referred back to the Podgorica Basic Court for a retrial, prolonging the legal
uncertainty surrounding Kwon’s fate.

Terraform Labs’ Legal Battles

Kwon’s legal woes extend beyond Montenegro, with
both the United States and South Korea seeking his extradition to address
charges related to the collapse of Terraform Labs. Despite a previous decision
by the Podgorica High Court approving Kwon’s extradition, this latest
development casts doubt on the process and timeline of his potential
extradition.

Kwon and Terraform Labs face a class action lawsuit
comprising more than 300 parties, filed in Singapore in the aftermath of the
devaluation of the UST token. Additionally, Kwon’s recent four-month prison
sentence in Montenegro for falsifying documents underscores the gravity of the
situation.

After months of deliberation, Montenegrin
authorities have extradited Han Chang-joon to South Korea, according to a notice by the Government of Montenegro. The move comes as
both the U.S. and South Korea seek jurisdiction over Kwon to address criminal
charges related to the collapse of Terraform Labs, a multibillion-dollar crypto
enterprise, in May 2022.

The extradition underscores the severity of the
charges, as Chang-joon faces criminal proceedings in South Korea for various financial
offenses. Meanwhile, Do Kwon’s appeal regarding his extradition fate remains in
the hands of Montenegro’s appeals court, adding complexity to the legal matter.

Chang-joon and Kwon, the Co-Founder and Former CEO of Terraforms Labs, were arrested in March 2023 while attempting to travel with falsified documents.
Subsequently, a Montenegro court sentenced them to four months in prison,
sparking a contentious legal battle over their extradition.

The statement from the authorities, translated from
Serbian, stated: “This person was deprived of his liberty in Montenegro on
March 23, 2023, at Podgorica Airport, according to an international warrant
issued for him by Interpol Seoul together with D.H.K., and after serving a
four-month prison sentence in Montenegro for of the committed criminal offense
of document forgery, extradited from Montenegro.”

Meanwhile, the legal saga surrounding Kwon recently took a dramatic turn when Montenegro’s Appeals Court overturned a decision regarding his
extradition to the United States or South Korea.

The reversal resulted from a procedural error
wherein Kwon was denied the opportunity to present his defense against the
extradition requests. This setback marks a crucial moment in Kwon’s legal
battle, which stems from the collapse of Terraform Labs, a multi-billion dollar
crypto venture.

The judge overseeing the matter granted Kwon the
chance to present his stance regarding the extradition requests. Such an
opportunity is mandated by the laws of Montenegro. Consequently, the case was
referred back to the Podgorica Basic Court for a retrial, prolonging the legal
uncertainty surrounding Kwon’s fate.

Terraform Labs’ Legal Battles

Kwon’s legal woes extend beyond Montenegro, with
both the United States and South Korea seeking his extradition to address
charges related to the collapse of Terraform Labs. Despite a previous decision
by the Podgorica High Court approving Kwon’s extradition, this latest
development casts doubt on the process and timeline of his potential
extradition.

Kwon and Terraform Labs face a class action lawsuit
comprising more than 300 parties, filed in Singapore in the aftermath of the
devaluation of the UST token. Additionally, Kwon’s recent four-month prison
sentence in Montenegro for falsifying documents underscores the gravity of the
situation.

Source link

Related Posts

Leave a Comment