#Podgorica High Court

[dencyemily]

Legal Milestone: Montenegro High Court Greenlights Extradition of Do Kwon to the United States

The legal landscape for Terraform Labs and its former CEO, Do Kwon, has taken a tumultuous turn with the recent Podgorica High Court ruling in favor of Kwon's extradition to the United States. This decision, which sidelined South Korea's extradition request, unfolds against the backdrop of wire fraud and securities fraud charges faced by Kwon in both the U.S. and South Korea.

The extradition approval, following a period of legal deliberation and guided by an Appeals Court directive, has paved the way for a phased legal battle in the U.S. for Kwon. The intricacies of the case include Kwon's arrest alongside Han Chang-joon at Podgorica airport, attempting to leave the country with forged passports. While Han has been extradited to South Korea, Kwon's legal challenges persist.

Montenegro's Justice Minister, Andrej Milović, highlighted the role of the United States as a key foreign policy ally in the extradition decision. The timing of Kwon's transfer to the U.S. remains uncertain, adding an element of suspense to the unfolding legal drama that began with Terra's downfall.

The legal battles stem from the aftermath of the TerraUSD collapse, a significant event that caused a market loss of approximately $40 billion. The U.S. and South Korea are actively pursuing legal action against Kwon and other Terraform Labs executives to address the implications of this collapse.

In the midst of these challenges, Terraform Labs initiated Chapter 11 bankruptcy proceedings in Delaware. CEO Chris Amani emphasized the critical nature of this step, addressing legal challenges, including a lawsuit from the SEC and proceedings in Singapore. The bankruptcy filing, revealing assets and liabilities within the $100 million to $500 million range and a broad creditor base, aims to navigate the intricate legal landscape stemming from Terraform Labs' legal entanglements.

[mariacallous]

The Higher Court in Montenegro sentenced Ilir Djokaj to a maximum sentence of 40 years in prison for the aggravated murder of Sejla Bakija, 19, and for wounding her father, Saban, in September 2021. Djokaj was found guilty of aggravated murder, attempted murder and illegal possession of weapons.

Judge Veljko Radovanovic in the explanation of the verdict said Djokaj had killed Sejla out of base motives and feelings of selfishness. The court rejected defence claims that Djokaj was threatened when he came to the Bakija family home in Tuzi, near Podgorica.

Djokaj’s lawyer, Srdjan Ljeskovic, announced an appeal, claiming the verdict reflected pressure from politicians and part of the NGO sector.

But Tijana Zivkovic, legal representative of the Bakija family, said after the trial that the verdict brought some sort of satisfaction for the victim’s family.

Prosecutors sought the maximum sentence of 40 years in prison for Djokaj, as did the family of the victim.

According to the prosecution, the 19-year-old was targeted after she refused to renew the relationship with Djokaj that had been broken a few months earlier before fatal events.

During that time, he chased her, sent her messages through fake profiles on social networks, threatened her, said that it was not over between them, and said her life was in his hands.

On September 30, 2021, Djokaj appeared in front of her family home and shot the teen dead with a gun after she repeated to him that she did not want to live with him and did not love him.

After Seila’s murder, protests were organised, calling out institutions because the victim had repeatedly reported the threats to the police. Although protesters said the responsibility of all those in the chain of protection against violence should be determined, this has not happened to date.

A group of citizens and several NGOs also protested last year in front of the Higher Court in Podgorica over the verdict in the case of another murder, of Zimrita Nerda.

Their protest came after the High Court sentenced Dalibor Nikolić to only 12 years in prison in the first instance after he brutally beat his pregnant wife Zimrita Nerda with a bat and fists in 2022. As a result, Nerda died a few days later.

Rights groups demanded the introduction of femicide as a separate criminal offence. The government replied that it would be considered in changes to the Criminal Code planned for the second half of 2024.

[welthax]

Co-Founder of FutureNet Crypto Scheme Arrested in Montenegro

Montenegrin police have arrested Roman Ziemian, co-founder of the fraudulent crypto scheme FutureNet, which caused losses estimated at $21 million. Ziemian, living under a false identity in Podgorica, is wanted by South Korea and Poland for fraud, theft, and money laundering. He faces life imprisonment in South Korea. The High Court in Podgorica will decide on his extradition. FutureNet, launched in 2018, was marketed as a multi-level marketing business but has since been exposed as a financial pyramid scheme.

[amitojsinghblog]

Montenegro’s Supreme Court to Rule on Do Kwon Extradition This Month: Report

Montenegro’s Supreme Court is reportedly set to decide by the end of this month whether the extradition process of Do Kwon involved legal violations.

According to a recent report by Vijesti, a Montenegrin newspaper, the court will review a request from the Supreme State Prosecutor alleging multiple breaches of law in the judgments made by lower courts regarding Kwon’s extradition.

Do Kwon’s Extradition Result in September

Acting Supreme Court President Vesna Vučković noted that the decision follows concerns over legal uncertainties raised in handling the case.

Vučković emphasized that the situation is particularly troubling given the short timeframe within which these violations were identified in the Do Kwon extradition case.

She suggested that the recent developments could have broader implications for judicial consistency and the perception of fairness in Montenegro’s legal system.

Vučković also indicated that the Supreme Court has been unable to schedule a session to deliberate on the prosecutor’s request due to what she described as “objective reasons,” further complicating the timeline for a final decision.

“That should worry us, because it creates additional legal uncertainty for citizens, but also for judges of lower courts, who monitor judicial practice,” said the acting president.

FutureNet Scheme Co-Founder Arrested in Montenegro

In August, Montenegrin police arrested Roman Ziemian, co-founder of the crypto fraud scheme FutureNet, in Podgorica, where he had been living under a false identity.

Authorities seized items and electronic devices believed to be connected to Ziemian’s activities. He was set to appear before Podgorica’s High Court to determine whether he will be extradited to face charges abroad.

FutureNet, co-founded by Ziemian in 2018, marketed itself as a multilevel marketing platform with its crypto, FuturoCoin (FTO). In 2019, Polish authorities labeled the platform a potential pyramid scheme.

The scheme collapsed in 2020 after South Korean authorities investigated complaints from 950 people who reported significant financial losses. Ziemian, previously arrested in Italy, had escaped house arrest.

[adammalik]

Complytics Solutions

#Montenegro Authorities have arrested Roman Ziemian, the co-founder of the alleged crypto #fraud scheme #FutureNet, which is suspected to have stolen around $21 million in a detailed crypto fraud scheme. Ziemian was reportedly using a false #identity and living in the country’s capital #Podgorica. An arrest warrant was also issued by South Korea and Ziemian’s native #Poland, who alleged that he committed fraud, #money laundering, and #theft. He faces the possibility of life imprisonment in South Korea and is set to appear before a judge in Podgorica’s High #Court to determine his extradition.

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#digital #cryptocurrency #crypto #blockchain #virtualcurrency #btc #ethereum #bitcoin #digitalassets #virtualassets #stablecoin #nft #eth #ltc #token #korea #southkorea

[joshsample]

Complytics Solutions montenegro fraud futurenet identity podgorica poland money theft

#Montenegro Authorities have arrested Roman Ziemian, the co-founder of the alleged crypto #fraud scheme #FutureNet, which is suspected to have stolen around $21 million in a detailed crypto fraud scheme. Ziemian was reportedly using a false #identity and living in the country’s capital #Podgorica. An arrest warrant was also issued by South Korea and Ziemian’s native #Poland, who alleged that he committed fraud, #money laundering, and #theft. He faces the possibility of life imprisonment in South Korea and is set to appear before a judge in Podgorica’s High #Court to determine his extradition.

[mariacallous]

The Constitutional Court of Montenegro on Friday agreed to suspend the extradition of South Korean cryptocurrency mogul Do Kwon, who is wanted by South Korea and the US.

The Supreme Court had decided in September that the extradition of Do Kwon would be made by the Minister of Justice. But the Constitutional Court suspended that ruling until it decides on Do Kwon’s appeal against his extradition.

“The request for the suspension of the judgment of the Supreme Court… until the final decision of the Constitutional Court is adopted,” the Constitutional Court said.

The Ministry of Justice announced on Friday that the Constitutional Court only informed it today that Do Kwon’s lawyers had filed a constitutional complaint. The ministry stated that, due to the great interest in this case, timely communication between branches of government and institutions is important for making valid decisions.

“That’s why we ask the Constitutional Court to act in this case as soon as possible and inform us about it without delay in the future,” the Ministry of Justice said.

Kwon and crypto company Terraform’s former chief financial officer, Han Chang-joon, were arrested in March last year at Podgorica airport, trying to board a private jet to Dubai with false Costa Rican travel documents. They have since been convicted of forgery by a Montenegrin court.

Kwon is wanted in South Korea on financial charges, as well as in the US where, hours after his arrest in Montenegro, federal prosecutors in New York charged him with fraud over his management of Terraform.

The company was behind the digital currencies Luna and TerraUSD, whose collapse in 2022 wiped out billions of dollars in value, caused a market meltdown and cost their investors everything.

Kwon’s case had an impact on political life in Montenegro. Days before last year’s parliamentary elections, media reported that he had written to then Prime Minister Dritan Abazovic, the then justice minister and the Special State Prosecution, claiming he was financing Europe Now, the centrist movement whose leader, Milojko Spajic, became prime minister after the election.

Abazovic confirmed receiving a letter and urged prosecutors to investigate. Europe Now dismissed the reports, claiming it was a political smear campaign. Prosecutors questioned Kwon and the investigation is ongoing. Spajic called the claims a “brutal abuse of state institutions” ahead of the election.

After several different judgments by the High Court in Podgorica, which decided variously that Kwon should be extradited to the United States, then to South Korea, or that the decision should be made by the Minister of Justice, the Supreme Court on September 19 ruled that the minister should decide which country he should be extradited to. This decision is now on hold pending Do Kwon’s appeal.

Besides the South Korean, Montenegro faces another high-profile crypto-related case over Polish national Roman Zimian, who is wanted by Poland and South Korea on suspicion of multimillion-dollar crypto fraud. He was arrested in Montenegro in August.

Asked about international fugitives choosing Montenegro as a haven, Minister of Justice Bojan Bozovic told BIRN in an interview earlier this week: “It is a concern… why those people are coming here… we do not want to send the message that we are a comfortable place for anyone who wants to deceive anyone, anywhere on this planet.”

[amitojsinghblog]

FutureNet’s Roman Ziemian Arrested in Montenegro for Fraud

Roman Ziemian, a Polish national and co-founder of the digital currency platform FutureNet, has been arrested in Montenegro. This arrest marks a significant development in the ongoing saga of crypto-related fraud cases. Ziemian, who allegedly defrauded investors out of approximately $21 million, was apprehended after an extensive international law enforcement operation.

High-Tech Crime Operation

Montenegro’s police announced Ziemian’s detention, citing a collaborative effort involving Montenegrin authorities and Interpol. This operation was triggered after Ziemian managed to evade capture by escaping from house arrest in Italy in 2022. His whereabouts had been unknown until he was found hiding under a false identity in a newly developed residential area in Podgorica.

The arrest came after thorough investigations led by the Sector for Fighting Crime – Group for High-Tech Crime and the Regional Security Center “Centar.” Authorities confiscated various technical devices and items suspected to be related to Ziemian’s alleged criminal activities. The charges against him include money laundering, theft, and other economic crimes.

Do Kwon’s Arrest

This case is reminiscent of another high-profile crypto crime saga unfolding in Montenegro. Terraform Labs co-founder Do Kwon, who has been detained in the same country since March 2023, is also awaiting a decision on his extradition. 

South Korea and the United States are locked in a legal battle to secure Kwon’s extradition. Kwon’s arrest followed his use of a fake passport, further complicating the international legal landscape surrounding crypto fraud.

Ziemian’s Partner Arrested in Greece

Besides the arrest of Ziemian, it’s worth noting that another key figure associated with FutureNet, Stefan Morgenstern, was apprehended in Greece and later in Albania in 2023. This series of arrests highlights the ongoing challenges law enforcement faces in tracking and prosecuting individuals involved in large-scale crypto frauds.

Ziemian’s upcoming court appearance in Montenegro will determine his future. An investigating judge at the High Court in Podgorica will decide whether he will be extradited to Poland, South Korea, or any other jurisdiction pursuing charges against him. The global financial community will closely watch this decision, as it could set a precedent for handling international crypto fraud cases.

[isfeed]

Terraform Labs co-founder and crypto fugitive, Do Kwon, set for extradition to South Korea

The Appellate Court of Montenegro ruled on Thursday that Terraform Labs co-founder, Do Kwon, should be returned to his home country, South Korea. The ruling confirmed an earlier decision in April from the High Court of Podgorica which rejected a request to extradite the crypto fugitive to the U.S. The extradition date for Kwon to […] © 2024 TechCrunch. All rights reserved. For personal use…

[thenewsart]

Nigeria lifts crypto ban; Do Kwon; SBF; 3AC

In today’s weekly recap, the focus is on the proliferation of global regulatory efforts, with Nigeria finally lifting its ban on cryptocurrency transactions. Post-implosion developments surfaced, involving Do Kwon, 3AC and Sam Bankman-Fried.  Do Kwon extradition overturned Recall that the Podgorica High Court approved the extradition of Terra founder Do Kwon to either South Korea or the United…

[noisynutcrusade]

Montenegrin court revokes Do Kwon's bail

A Montenegrin high court in Podgorica has revoked Terraform Labs co-founder Do Kwon’s bail. According to a May 24 Bloomberg report, a spokeswoman for the court Marija Rakovic said the court decision also affects the company’s former CFO, Han Chong-Joon. This means that Kwon and Chong-Joon would remain in jail until their trial. Following this ruling, the lower court has to make a new decision…

[razistoricharka]

Prosecutors in Montenegro say they are investigating a tunnel dug between the High Court building and a nearby apartment in Podgorica after its discovery by authorities probing an apparent burglary attempt. The High Court's president, Boris Savic, said on September 12 that "almost nothing is missing" from the evidence-storage depot at the terminus of the tunnel. He said it was "in a well-hidden place" and "had to have been built over a long period of time." But he said "the most important thing for us is that we closed something that posed a danger." Montenegrin authorities have grappled with organized crime and lawlessness for decades.

joke country

the current affair in crna gora is that someone dug a tunnel into the depot of the supreme court

[skillstopallmedia]

Montenegro | Explosion in courthouse kills one, injures five

(Podgorica) A 39-year-old man died after detonating himself, injuring five others, at the entrance to a courthouse in the Montenegrin capital Podgorica on Friday, police said. The reasons for his action were not immediately known. “He activated the high-powered explosive device upon entering the court building, and died instantly. There are also five injured people who have been hospitalized. It…

[apwmagazine]

Charged With Abuse of Office

Charged With Abuse of Office

Sasa Cadjenovic is under arrest for his alleged abuse of office and involvement in a criminal group. Čađenović had been the Montenegrin Special State Prosecutor since May 2019. He was known to the country’s public from the “coup d’état” court trial underway since 2017. The case in the High Court in Podgorica included Russian and Serbian citizens and the pro-Russian Democratic Front’s leaders…

[radiomix]

The former director of the Montenegrin Real Estate Administration was detained

The former director of the Montenegrin Real Estate Administration was detained

The High Court in Podgorica ordered the detention of the former director of the Real Estate Administration, Dragan Kovacevic, today, confirmed the independent advisor for public relations of that court, Marija Rakovic. Kovačević came to the hearing, after which the Special Prosecutor’s Office submitted a motion for detention, according to which the High Court decided and ordered him to be…

[mariacallous]

Criminal Law amendments containing stricter penalties for revenge porn will soon be proposed to the Montenegrin parliament, the Podgorica-based NGO Prima announced at a conference on Thursday in Podgorica. Aida Perovic, from Prima, called on the authorities to deal seriously with the problem of revenge pornography.

“Montenegrin authorities should be fully aware that gender violence and revenge pornography do not happen to someone else but are present in our country, especially due to the abuse of high-tech communication platforms. Law amendments that deal with this problem will be proposed to parliament,” Perovic said.

The UK government defines revenge porn as “the sharing of private, sexual materials, either photos or videos, of another person without their consent and with the purpose of causing embarrassment or distress”.

The proposed Criminal Law amendments envisage up to two years in prison for those who make available to a third party a video, photograph, audio recording or file with sexually explicit content, without the approval of the person shown in the content. If the offence is committed online, the prison sentence would be up to three years.

Law amendments anticipate still stricter penalties if this crime is committed by an official, with a prison sentence of up to four years, or five years if the crime is committed online. According to the amendments, explicit material and referred devices will also be confiscated.

Under current Criminal Law, those who publish private material audio or video material without the approval of the person shown in the material face up to a one year in prison. If the offence is committed by an official person penalties range from three months to three years in prison.

Presented Police Directorate data show there were six criminal offences of revenge pornography in Montenegro between 2019 and now, while victims were mostly women and the perpetrators were men.

“The penalties should be as high as possible, so they should be prison sentences. It would also be preventive; the perpetrators would not easily repeat the crime and the potential perpetrators would be aware of the possible consequences if they commit the crime,” state prosecutor Biljana Pavlicic said.

Currently, no specific law in the Balkans addresses revenge porn, and the offence is sometimes tackled via other criminal offences, such as the unauthorized taking or publication of photographs. But in Serbia, Montenegro and Bosnia, public prosecutors do not deal with such cases,. They must instead be brought via private complaints submitted directly to the courts. It is up to the victim to prove it happened.

Revenge porn became headline news in the Balkans in early 2021 with the discovery of at least three Telegram messaging groups on which tens of thousands of people were exchanging photos and videos of women and girls without their consent.

According to data that BIRN was able to obtain from October 2021, 263 complaints of unauthorised sharing of photos or videos were filed in Serbia, Montenegro and Bosnia between 2016 and 2020, resulting in 35 convictions. It is not clear how many of those specifically concerned revenge porn.