The Constitutional Court of Montenegro announced on Friday that it would suspend the extradition of South Korean cryptocurrency mogul Do Kwon, who is sought by authorities in both South Korea and the United States.
The decision comes as Kwon appeals against his extradition, with the Constitutional Court now reviewing the case, according to a local news report.
Montenegro’s Constitutional Court Suspends Extradition of Do Kwon
In September, the Supreme Court had determined that Montenegro’s Minister of Justice would oversee Kwon’s extradition. However, the Constitutional Court’s recent ruling puts this decision on hold until it concludes Kwon’s appeal.
The Constitutional Court stated, “The request for the suspension of the judgment of the Supreme Court… until the final decision of the Constitutional Court is adopted.”
The Ministry of Justice verified that Kwon’s legal team notified it on Friday that a constitutional lawsuit had been filed. The ministry underlined that, in light of the substantial public interest in the matter, prompt communication across government branches is essential.
The ministry said, “For this reason, we request that the Constitutional Court take immediate action in this case and promptly notify us of its findings in the future.”
In March of last year, Do Kwon and Han Chang-joon, the former CFO of Kwon’s cryptocurrency venture Terraform, were detained at the Podgorica airport while trying to board a private plane to Dubai with fictitious travel documents from Costa Rica. Since then, a Montenegrin court has found both of them guilty of forgery.
Do Kwon’s Charges in South Korea
In addition to being charged with major financial offences in South Korea, Kwon was accused of fraud related to his ownership of Terraform by federal authorities in New York. The business created the virtual currencies TerraUSD and Luna, whose collapse in 2022 caused investors to lose billions of dollars and caused a major market decline.
The political climate in Montenegro has also been impacted by Kwon’s case. He allegedly got in touch with then-Prime Minister Dritan Abazovic a few days before the legislative elections of last year, stating he was funding the centrist movement Europe Now, whose leader, Milojko Spajic, went on to become prime minister. Abazovic asked prosecutors to look into the situation and acknowledged receiving a letter from Kwon.
After various judgments from the High Court in Podgorica, which fluctuated between extraditing Kwon to the U.S. and South Korea, the Supreme Court ruled on September 19 that the Minister of Justice should make the final decision. This ruling is currently on hold pending Kwon’s appeal.
It has been reported that Do Kwon has been able to make multiple cryptocurrency payments from prison in Montenegro after officials took 72 days to confiscate his electronic gadgets and login credentials for his cryptocurrency wallet.