Terraform Labs’ CEO, Dohyeong Kwon, was arrested in Montenegro and plans to appeal the extended detention period of up to 30 days. Kwon’s lawyer confirmed that an appeal will be filed within the designated period, with Kwon’s identity and possibility of fleeing as reasons for the extension. Kwon was detained following trying to leave for Dubai with a fake Costa Rican passport, accompanied by his aide, Mr. Han. Previously, Kwon went missing following the virtual currency Terra and Luna collapsed in April last year. Kwon fled to Serbia via Dubai and was caught trying to get to Dubai via Montenegro. Montenegro allows detainment for up to 72 hours, but the court accepted the extension upon interrogation. The extradition of Kwon will be requested by the Korean Ministry of Justice from the Montenegrin authorities. An AFP report stated that a hearing on the extradition request will only transpire following Kwon has been tried in a lower court for forging official documents, though Kwon’s lawyer will challenge the extension given the lack of Korean interpreters, impeding the right to defend himself.
Dohyung Kwon, CEO of Terraform Labs. Terraform Labs website
Terraform Labs CEO Dohyeong Kwon (32), who was arrested in Montenegro, is expected to appeal once morest the local court’s decision to extend the detention period for up to 30 days.
The Montenegrin daily newspaper ‘Bijesti’ reported on the 25th (local time) that Kwon’s lawyer, Branko Angelich, said, “We will appeal the court’s decision to extend the detention period within the set period.”
The local court ordered an extension of the detention period the previous day for CEO Kwon and his aide, Mr. Han.
The court decided to extend the detention period for up to 30 days, saying that Kwon and others are foreigners residing in Singapore and are likely to flee, and that their identities have not been clearly proven.
On the 23rd, CEO Kwon was arrested and detained following trying to board a flight to Dubai, United Arab Emirates (UAE) with a fake Costa Rican passport at Podgorica International Airport with Mr. Han.
Previously, CEO Kwon disappeared following leaving for Singapore in April of last year, right before the virtual currency Terra and Luna collapsed.
Afterwards, he fled to Serbia via Dubai, and was caught trying to get to Dubai via Montenegro, a neighboring country.
Montenegro only allows detention of suspects for up to 72 hours. The Podgorica District Prosecutor’s Office asked the court for an extension of the period, and the court accepted it following interrogating the suspect.
At the time of the suspect’s interrogation, Kwon’s side applied for a challenge to the court, citing that Korean interpreters were not provided, but it was rejected.
The court dismissed the request to challenge the court, saying that Kwon had confirmed to the prosecutor that he understood English.
Representative Kwon’s lawyer expressed his intention to appeal once morest the decision.
Attorney Angelich argued, “The clients were deprived of the right to defend themselves, such as not being provided with an interpreter in their native language.”
“Nevertheless, the court decided to extend the detention period because there was a risk of flight,” he said. “We will file an appeal once morest this decision within the set period.”
The day before the arrest, the Montenegrin police said, “We charged two people, including CEO Kwon (using fake passports), with forgery of official documents.”
Authorities in Montenegro stated that there is no record of Kwon’s entry into Montenegro from Serbia.
The Korean Ministry of Justice announced on the 24th that it would request the extradition of Kwon from the Montenegrin authorities, but it is unclear whether an early extradition will take place. If the Montenegrin authorities take direct legal action once morest Kwon and Kwon takes legal action, it will take a considerable amount of time before a final decision is reached.
AFP reported, citing a court official, that a hearing on the extradition request will be held in a higher court only following Kwon has been tried in a lower court on charges of forgery of official documents.
In conclusion, the detention of Terraform Labs CEO Dohyeong Kwon continues in Montenegro as he is expected to appeal once morest the decision to extend his detention period for up to 30 days. The court cited the risk of flight as the reason for the extension, and Kwon’s lawyer has expressed dissatisfaction with the proceedings, noting that his clients were deprived of their right to defend themselves in their native language. Meanwhile, the Korean Ministry of Justice has announced its intention to seek Kwon’s extradition, but this process may take a significant amount of time. As the legal battle unfolds, it remains to be seen what the final outcome will be for Kwon and his associates.
