In the court’s statement, it was stated that Kwon’s extradition was approved and the final decision would be given by the Minister of Justice of Montenegro. It was recalled that Kwon was previously sentenced to four months in prison in a Montenegro court on charges of trying to flee to Dubai by private jet using a fake passport. In June 2023, it was revealed that Kwon was charged with trying to leave the country using a fake Costa Rican passport.

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In the court’s announcement, it was emphasized that if the Minister of Justice gives final extradition permission, the extradition would take place after the execution of the sentence given in the fake document case.

Do Kwon was arrested in May 2022 due to his role in the $40 billion collapse of the Terra ecosystem. While it was mentioned that both the US and South Korea requested Kwon’s extradition, the court’s statement said that the Terraform Labs co-founder could be punished in both countries.

In the US, charges awaiting Kwon include accusations by the Department of Justice about the collapse of TerraUSD and LUNA and a lawsuit related to fraud from the Securities and Exchange Commission. It is reported that if extradited to South Korea, Kwon could be sentenced to 40 years in prison.

Last week, information was shared regarding the decision by Montenegro’s highest court to reject Kwon’s appeal and keep him in prison. It is mentioned that Kwon is currently being held in Spuž prison and is allowed to go out for one hour a day, while European officials reportedly stated that prison conditions are cramped and ventilation is inadequate.

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