Do Kwon to be released on house arrest, extradition process halted as prosecutor cites ‘procedural errors’


  • The Montenegrin Supreme Court's Council has issued a ruling delaying the extradition of Do Kwon to South Korea.
  • Council argues that quoted solutions "violated the law” by going for extradition in a “shortened procedure” despite two extradition applications.
  • The Council had stated that the courts exceeded their mandate, assuming the jurisdiction of the Minister of Justice.  
  • Do Kwon will also be released on hourse arrest.

Terra executive Do Kwon is set to be released on house arrest by Montenegrin court order. It comes after the country’s Supreme Court officially confirmed that the South Korean citizen's passport has been revoked.

Kwon is wanted in connection to the $40 billion collapse of the TerraUSD (UST) stablecoin in 2022.

Specifically, the South Korean citizen will leave the prison in Spuz on Saturday but will be stripped of his travel documents by order of the Higher Court in Podgorica, the news from the Higher Court confirmed. According to this information, the court issued a seizure of a valid passport as a security measure.

The Supreme Court Council had issued a ruling earlier today to delay the extradition of Kwon.

Also Read: South Korea beats the US to Do Kwon extradition as court cites ‘first-come-first-serve’

Do Kwon extradition suspended pending Supreme Court judgement

Local Montenegrin media also reports that the country’s Supreme Court Council has issued a ruling delaying the extradition of Hyeong Do Kwon to South Korea. This is pending a decision on the supreme state prosecutor's application for the protection of legality.

The Council of the Montenegro Supreme Court decided on the proposal to postpone the execution of the Higher Court's decision of March 6 and the decision of the Court of Appeals of March 20, submitted with the request for the protection of legality.

"... it issued a decision ordering the postponement of the above-mentioned decision on the extradition of the defendant Kwon Do Hyeonga to the Republic of South Korea, at the request of the Ministry of Justice of the Republic of South Korea, dated March 24, 2023, until the decision on the submitted request for the protection of legality is made," the Supreme Court said in a statement.

In the explanation of the decision, the Council requested to postpone the execution of the decisions of the Higher Court (composed of lower-level judges compared to those in the Supreme Court) in Podgorica and the Appellate Court until the decision was made on the submitted application for the protection of legality.

The Council said, decided on the proposal to postpone the execution of the Higher Court's decision of March 6 and the decision of the Court of Appeals of March 20, submitted with the request for the protection of legality.

The request essentially states that lower-level courts have found that the legal prerequisites for extraditing Do Kwon to South Korea have been met. It also acknowledges that the defendant has given his consent for the extradition to be carried out in a simplified procedure.

Prosecutors office files request for legality

The Supreme State Prosecutor's Office on Thursday filed a request for legality before the Supreme Court. This followed the decision of the Court of Appeals to uphold the decision of the Higher Court in Podgorica, allowing extradition of Kwon in summary proceedings, at the request of South Korea, and refusing extradition at the request of the United States of America.

The request for the protection of legality was also raised because the Appellate Court did not hear the State Prosecutor in the Supreme State Prosecutor's Office in the appeal proceedings. This is contrary to the provisions of the Law on International Legal Assistance in Criminal Matters and the Law on State Prosecutor's Office.

The law stipulates that only the Supreme State Prosecutor's Office acts before the Appellate Court. As such, it violated the provisions of the criminal procedure, and which was the influence of making a lawful court decision.

The Supreme State Prosecutor's Office proposed to the Supreme Court to determine that the request for protection of legality was well founded and to issue a verdict that would reverse the Court's decision.

The Appeals Court rejected the appeal of Do Kwon's defense counsel on March 20 and upheld the decision of the Higher Court in Podgorica of March 6.

The first instance decision of the High Court allowed extradition in summary proceedings to Do Kwon for prosecution for several crimes at the request of South Korea, while the extradition of this defendant was rejected in summary proceedings at the request of the US.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

XRP rally likely as Ripple Swell conference is held this week

XRP rally likely as Ripple Swell conference is held this week

Ripple trades above $0.5400 early on Monday. The altcoin added over 2% to its value on the day, ahead of a key event. Ripple, a cross-border payment remittance firm, is gearing up for its annual conference called Ripple Swell. 

More Ripple News
Bitcoin Price Forecast: BTC eyes return to all-time highs

Bitcoin Price Forecast: BTC eyes return to all-time highs

Bitcoin trades close to $66,000 on Monday. The largest asset by market capitalization has noted a steady increase in its demand among traders since April 2024, according to data from crypto intelligence tracker CryptoQuant. 

More Bitcoin News
Crypto Today: Bitcoin, Ethereum rally, XRP recovers even as institutional demand for BTC, ETH ETFs slows

Crypto Today: Bitcoin, Ethereum rally, XRP recovers even as institutional demand for BTC, ETH ETFs slows

Bitcoin rises towards $65,000 on Monday, gaining nearly 4% on the day. Ethereum adds over 3% to trade above $2,500. XRP edges up above $0.53 but trades within its recent range.

More Cryptocurrencies News
Solana Price Forecast: SOL gears up for double-digit gains as demand for meme coins jumps

Solana Price Forecast: SOL gears up for double-digit gains as demand for meme coins jumps

Solana continues its upward trend this week, rising above the $150 level on Monday. The token of the Ethereum-alternative smart contract chain has gained 3% on the day and is gathering positive momentum at the time of writing. 

More Solana News
Bitcoin Weekly Forecast: Will BTC decline further?

Bitcoin Weekly Forecast: Will BTC decline further?

Bitcoin’s (BTC) price fell over 6% at some point this week until Thursday, extending losses for a second consecutive week, as it faced rejection from a key resistance barrier.

Read full analysis
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

BTC

ETH

XRP