Lawyers suggest Do Kwon’s extradition is unlikely to occur “prior to the conclusion of March.”

Terraform Labs co-founder Do Kwon may not be extradited to the United States in time for the firm’s trial with the Securities and Exchange Commission (SEC), as stated by his legal team. According to David Patton of Kaplan Hecker & Fink, Kwon is expected to remain in Montenegro, where he has been since March 2023, until at least the end of March. The lawyer explained that unforeseen errors have caused delays in the extradition process. Consequently, Kwon is unlikely to be present at the beginning of the trial scheduled for March 25, 2024. Patton emphasized that regardless of the timing of Kwon’s extradition, they will not seek an adjournment of the trial date. Goran Rodic, who represents Kwon for legal proceedings in Montenegro, revealed that the country’s High Court mistakenly ruled to extradite Kwon to the U.S. on February 21, 2024, due to incorrect information. Rodic stated that they have appealed the decision, citing its unlawfulness. He also expressed doubts about Kwon’s extradition to either South Korea or the United States before the end of March. The lawyers’ filings indicated that the United States is likely to win the extradition battle with South Korea. Kwon was arrested in Montenegro in March 2023 for using forged travel documents and has remained there while extradition requests were processed. The SEC filed a lawsuit against Kwon and Terraform in February 2023, and the U.S. Attorney’s Office charged Kwon with eight criminal counts shortly after his arrest. The allegations revolve around a multi-billion dollar crypto asset securities fraud related to TerraUSD (UST) and Terra (LUNA) offerings. Although the trial date has been postponed to potentially accommodate Kwon, it is expected to commence on March 25. It is worth noting that former U.S. President Donald Trump will also appear in the same court district on the same day for his first criminal trial.