Breaking: Montenegro Court Approves Terra Founder Do Kwon’s Extradition

Montenegro higher court has approved the extradition of Terra co-founder Do Kwon, according to sources familiar with the matter. Terraform Labs’ former executives Do Kwon and Han Chang-joon were sentenced to four months in prison in a passport forgery case and the appeal by executives has also been denied by the Montenegro high court.

Do Kwon’s Extradition To Be Decided By Montenegro Minister

The higher court in Podgorica, Montenegro has made a decision on the extradition of Terraform Labs co-founder Do Kwon, according to a court filing on November 24.

“The legal prerequisites for the extradition of a citizen of the Republic of South Korea, the defendant KDH, were met, at the request of the Ministry of Justice of the Republic of Korea,” as per the court. Similarly, the legal prerequisites for the extradition of Do Kwon are met at the request of the Ministry of Foreign Affairs of the United States of America.

Both South Korea and the United States are entitled to extradition of Do Kwon to the countries. Also, Do Kwon gave his consent to be extradited to his home country.

Thus, the Minister of Justice Andrej Milović will decide which country has priority in case of possible extradition. During a TV show yesterday, Milović said the decision on whether to extradite Do Kwon to the US or South Korea is political and will take some time.

“The USA is our main foreign policy partner, we want to sign a bilateral extradition agreement as soon as possible, in order to create a legal framework for future extraditions,” Milović said.

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US Court Favors SEC

After considering the parties’ full briefing and the arguments and answers presented at the hearing, Judge Rakoff ruled in favor of the SEC. In the Daubert hearing, the judge approved SEC’s two experts and Terra’s one expert. The case moves forward for summary judgment.

Terra (LUNA) and Terra Classic (LUNC) prices jumped massively in the last few days. In the last 24 hours, LUNA fell 1% and LUNC also fell 1%.

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