Terraform creator Do Kwon shall be extradited to the U.S., Montenegrin Justice Minister Bojan Božović mentioned Friday.
The U.S. and South Korean governments have each sought to take custody of Kwon to face prison costs associated to the collapse of the algorithmic stablecoin Terra/Luna system in 2022, which kicked off a collection of high-profile collapses together with that of FTX.
Kwon, who was arrested in Montenegro in March of 2023 and sentenced to a couple months in jail over passport forgery costs, has been preventing his extradition to the U.S. for greater than a 12 months. Numerous courts within the nation have dominated in favor of the U.S. or South Korea taking custody of the onetime crypto govt.
In his assertion on Friday, Božović mentioned his choice adopted the nation’s Supreme Court docket ruling that the circumstances for approving an extradition had been met.
“Making an allowance for the decision of the Supreme Court docket, the Ministry of Justice thought of all of the information and circumstances and assessed standards such because the gravity of the prison acts, the place of execution, the order of submission of the request, the citizenship of the requested individual, the potential for additional extradition to a different nation, in addition to different circumstances,” the assertion mentioned.
The U.S. bid met these standards, the assertion mentioned.
Friday’s announcement is simply the most recent in a string of back-and-forth choices about the place Kwon needs to be despatched. The Appellate Court docket of Montenegro dominated in August of this 12 months that Kwon ought to go to South Korea.
The authorized fallout for Terra continues within the U.S. as properly; final week, the Securities and Alternate Fee settled costs with Tai Mo Shan, a subsidiary of Bounce Crypto, alleging Tai Mo Shan offered LUNA as a safety. The corporate can pay $123 million as a part of the settlement.
Editor’s word: The Montenegrin authorities’s assertion was translated into English.
