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Reading: Do Kwon escapes extradition limbo — enters US trial limbo
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Michigan Post > Blog > Crypto & Web 3 > Do Kwon escapes extradition limbo — enters US trial limbo
Crypto & Web 3

Do Kwon escapes extradition limbo — enters US trial limbo

By Editorial Board Published January 6, 2025 3 Min Read
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Do Kwon escapes extradition limbo — enters US trial limbo

The start of Do Kwon’s discovery course of is the most recent step within the difficult and drawn-out authorized journey that has been ongoing for the reason that $40 billion collapse of Terra/Luna in 2022.

Kwon was lastly extradited from Montenegro to the US on December 31 and he kicked off the US leg of his ongoing authorized saga by pleading not responsible to 9 federal fraud costs, together with cash laundering conspiracy and securities fraud.

There may be additionally an “initial conference” with Decide John P. Cronan scheduled for January 8 throughout which the prosecution and protection will collect proof and focus on whether or not or not the case will be settled by way of settlement.

It’s anticipated that, at this level, authorized events will discourage any wasteful pretrial actions and be sure that they’re ready for the invention course of and any potential trial. 

The invention course of can final for months as authorized representatives collect proof to current and look at the proof submitted by opposing authorized groups.

For context, former FTX supremo Sam Bankman Fried’s preliminary convention happened on January 3, 2023, and a trial date was scheduled for October 2 — virtually 10 months later. 

Given the complexity of the Terra/Luna collapse, it’s honest to say Kwon might effectively be in for the same wait. The costs he’s dealing with carry a most sentence of 130 years in jail.

Do Kwon recap

Kwon’s Montenegrin legal professionals have beforehand submitted six appeals. This time, they declare his removing to the US has breached European extradition legal guidelines.

It took Montenegro’s authorized system simply over a yr to lastly extradite Kwon after a excessive court docket permitted his extradition in November 2023. This ruling was the primary of many that might be overruled or reversed. 

Certainly, Prime Minister Milojko Spajić stated he hopes the extradition places an finish to “pre-election manipulations.”

Former Prime Minister Dritan Abazović had beforehand accused Spajić of assembly Kwon to buy Terra/Luna tokens. 

TAGGED:entersescapesExtraditionKwonlimbotrial
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