Montenegro’s high court approved the extradition of crypto entrepreneur Do Kwon, who is sought by the US and South Korea on fraud charges.
The Justice Minister will make the final decision on which country to extradite Mr Kwon to, the court said on its website on Friday. A phone call to the Justice Ministry went unanswered.
In an interview on Thursday with TV Vijesti, Justice Minister Andrej Milovic declined to disclose where he plans to send Mr Kwon. He did, however, give a hint about his intentions.
“The US is our chief foreign policy partner, we want to sign a bilateral agreement on extradition as soon as possible so we can have a legal framework for future extraditions,” he told the television station.
The Terraform Labs co-founder and the company's former chief financial officer Han Chang-joon were caught at the airport in Montenegro’s capital Podgorica in March when they tried to board a private jet to fly to Dubai after spending months as fugitives.
They were sentenced to four months in prison for travelling with forged documents. Both pleaded not guilty.
Mr Kwon has been charged by US prosecutors with orchestrating a years-long cryptocurrency fraud that wiped out at least $40 billion in market value following the implosion in May 2022 of TerraUSD, an algorithmic stablecoin.
He faces similar charges in South Korea.
The collapse of TerraUSD and its sister token Luna accelerated a broader $2 trillion downturn in the crypto market.
Officials in South Korea have said the Terra project Mr Kwon helped to create was a “fabrication” from its inception as the algorithm that helped keep TerraUSD at a stable price was impossible to get right.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
