In this, he is not allowed to leave the country

Do Kwon has been released from prison in Montenegro

25.03.2024 - 09:35


2 min

What’s new? Do Kwon, the founder of the Terra blockchain, has been released from prison in Montenegro, where he was serving a four-month sentence for passport forgery. At the same time, according to the decision of the Supreme Court, the businessman’s real passport has been confiscated, due to which he will not be able to leave the country. Earlier, the court postponed Kwon’s extradition to South Korea due to the claims of the local prosecutor’s office.

Material by Vijesti

What else is known? Do Kwon was detained at Podgorica airport while trying to fly to Dubai on a fake passport in March last year. At that time, he had already been on the run for several months and was listed in the Interpol database in connection with the Terra blockchain ecosystem collapse, which caused $40 billion in losses to investors around the world.

South Korea and the United States have filed extradition requests with Montenegro’s Justice Ministry to extradite the businessman for fraud trials. The court initially ordered the extradition of the businessman to the US, but after an appeal changed the decision in favor of Korea, as it was the first to request extradition.

After the decision was approved, the General Prosecutor’s Office of Montenegro filed a motion accusing the court of violation of procedural norms and abuse of power. Thus, a representative of the prosecutor’s office was not heard at one of the sessions, while the decision on extradition can only be made by the Ministry of Justice, the petition explains.

Consequently, the Supreme Court of Montenegro postponed Kwon’s extradition to Korea pending the outcome of the petition.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy