Andrej Milović, the former Minister of Justice in Montenegro, has expressed grave concerns regarding a possible connection between the extradition of Do Kwon, co-founder of Terraform Labs, and an airport concession deal with South Korea. This was reported on September 24 by the local news source Vijesti.
Milović alleged that Prime Minister Milojko Spajić altered his position on a contentious 30-year concession for Montenegro’s airports, using Kwon’s extradition as leverage to facilitate negotiations with South Korea.
Do Kwon was apprehended in Montenegro in March 2023 while attempting to board a flight with forged documents. He is being sought in connection with the collapse of TerraLuna, which resulted in global losses estimated at $40 billion. Both South Korea and the United States have made requests for his extradition.
Concerns of Political Interference
Milović, who is also a candidate for the mayoralty in the forthcoming local elections in Podgorica, publicly voiced his apprehensions in a media interview.
He contended that Spajić, initially inclined to award the airport concession to French investors, shifted his allegiance following the Court of Appeals’ ruling favoring Kwon’s extradition to South Korea.
Milović stated:
“Spajić expressed a notable satisfaction when the court ruled in favor of Kwon’s extradition. Shortly thereafter, he began endorsing the South Korean proposal for Montenegro’s airports, despite having previously preferred the French option.”
Milović further elaborated on the alleged personal involvement of Spajić in the case, citing reports that he had invested $75,000 in Terra/Luna tokens, thereby establishing a direct connection to Kwon’s failed crypto venture.
President of Montenegro, Jakov Milatović, along with former Prime Minister Dritan Abazović, has also accused Spajić of concealing his connections to Kwon, despite evidence of several documented meetings between the two individuals.
Milović cautioned that Kwon’s extradition to South Korea could impede a comprehensive investigation, urging the US to apply pressure on Spajić for greater transparency. He added:
“Extraditing Kwon to South Korea may hinder our ability to access critical information concerning the case and the roles of influential Montenegrin officials.”
The Ongoing Legal Battle of Do Kwon
The extradition of Kwon has incited a significant geopolitical controversy, with both South Korea and the US seeking to prosecute him. Since his arrest, Montenegrin courts have been engaged in deliberations regarding the appropriate jurisdiction for extradition, a process marked by numerous complexities over several months.
Repeated court decisions on extraditing Kwon to either the United States or South Korea have been reversed by higher courts, hampering a conclusive resolution.
Initially, Kwon was to be extradited to South Korea following a ruling by the Court of Appeals in early August; however, a subsequent order from the Supreme Court temporarily halted this process to review the legality of the earlier ruling.
The ultimate determination regarding Kwon’s extradition now lies with Justice Minister Bojan Božović, with the anticipated outcome poised to yield significant political and economic ramifications for Montenegro, particularly in terms of its vital infrastructure and international relationships.