After the collapse of Terraform Labs, the once influential Korean crypto mogul Do Kwon has been facing an ongoing battle against criminal charges in the U.S. and his home country, South Korea. Most recently, according to his lawyer, he has once more appealed the Montenegro High Court of Podgorica’s decision for his extradition.
A New Appeal Due To “Political Pressure On the Court”
As CoinDesk reported, the latest development on the case shows that Lawyer Goran Rodic made a new move against Do Kwon’s impending U.S. Extradition. They have again appealed the Montenegro High Court’s decision to uphold his extradition requests by the U.S. and South Korea.
In an email to the news website, Rodic stated they’re waiting for a new decision from the court:
We appealed again and now we are waiting for a new decision of the Court of Appeal.
In November, the Terra Founder won an appeal to overturn the High Court’s decision that the legal prerequisites for the extradition request were met. However, on December 29, the same court ruled that the request held up.
According to Rodic, the High Court’s decision “drastically violates the provisions of the law, the European Convention on Extradition, and the bilateral treaty with America on extradition.” He adds that the court is allegedly facing political pressure:
Apparently, there is also political pressure on the court, all to the detriment of Do Kwon.
A Collapse That Shocked The World
The Terra Collapse, back in May of 2022, shocked the crypto world and led to a market crash that left crypto investors with many questions and uncertainty, “as around $50 billion worth of the network’s two asset offerings, TerraUSD (UST) and Luna (LUNA), fell in value to practically nothing in the span of a week,” stated the Federal Reserve Board in a paper for their Finance and Economics Discussion Series (FEDS).
Since then, Kwon has been detained for using falsified travel documents in Montenegro and was later sentenced to four months in prison. Montenegro extended his detention by two months, at the request of the U.S. and South Korea, where he awaits the Montenegro High Court’s decision on his extradition request from both countries.
Just last week, The Terraform Labs founder officially requested the delay of the SEC’s trial against him for market manipulation and fraud due to the extradition proceedings from Montenegro taking longer than expected by his legal team.
At press time, Terra Luna Classic (LUNC) traded at $0.00012165
LUNC is trading at $0.00012165 in the hourly chart. Source: LUNCUSDT on TradingView.com
Featured image from: Bloomberg.com, Chart from: TradingView.com
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Author: Rubmar Garcia