Montenegro's appeals court has recently overturned the extradition request for Do Kwon, the co-founder of Terraform Labs. This decision comes after reports emerged that Justice Minister Andrej Milovic had informally agreed to the extradition.
Kwon to Remain in Montenegro, Decision Lies With Justice Minister
For the time being, Do Kwon will stay in Montenegro as the Appeals Court Council, on December 14th, overturned the Higher Court in Podgorica's ruling to extradite him to the United States. The case has now been sent back to the lower court for a fresh evaluation and final decision.
The court's decision to halt Kwon's extradition was invalidated due to a violation of specific legal protocols outlined in the Montenegrin Criminal Procedure Code. The court overstepped its jurisdiction, as its role in extradition matters is solely to verify the legal grounds for the request.
However, the authority to suspend or defer the extradition of the former CEO of Terraform Labs lies solely with the Minister of Justice, in accordance with Montenegrin legislation on international legal assistance in criminal matters. The appeals court made a decision beyond its legal capacity, leading to the annulment of the ruling.
Do Kwon faces significant legal challenges from both the United States and South Korea. He has consistently denied all allegations of fraud brought against him by the U.S. Securities and Exchange Commission (SEC) and South Korean financial authorities. The charges include commodities fraud, securities fraud, wire fraud, and conspiracy to commit fraud and manipulate the market. The final decision regarding Kwon's extradition rests with the Justice Minister.
What are your thoughts on the appeals court's decision regarding Do Kwon's extradition request? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
What Should Your IRA Include in Precious Metals?
The most important thing you should know when investing in precious metals is that they are not just for wealthy people. It doesn't matter how rich you are to invest in precious metals. There are many ways to make money on silver and gold investments without spending too much.
You may consider buying physical coins such as bullion bars or rounds. Stocks in companies that produce precious materials could be purchased. Another option is to make use of the IRA rollover programs offered by your retirement plan provider.
No matter what your preference, precious metals will still be of benefit to you. They are not stocks but offer long-term growth.
Their prices are more volatile than traditional investments. You'll probably make more money if your investment is sold down the line than traditional investments.
What Precious Metals Can You Invest in for Retirement?
These precious metals are among the most attractive investments. They are both simple to purchase and sell, and they have been around for a long time. You should add them to your portfolio if you are looking to diversify.
Gold: The oldest form of currency known to man is gold. It's also very safe and stable. Because of this, it's considered a good way to preserve wealth during times of uncertainty.
Silver: Silver has been a favorite among investors for years. It's a great option for those who want stability. Unlike gold, silver tends to go up instead of down.
Platinum: This precious metal is also becoming more popular. Like gold and silver, it's very durable and resistant to corrosion. It is, however, more expensive than its competitors.
Rhodium: Rhodium is used in catalytic converters. It is also used for jewelry making. It's also relatively inexpensive compared to other precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also more affordable. This is why it has become a favourite among investors looking for precious metals.
Who holds the gold in a gold IRA?
The IRS considers anyone who owns gold to be “a form money” and therefore subject to taxation.
To take advantage of this tax-free status, you must own at least $10,000 worth of gold and have been storing it for at least five years.
The purchase of gold can protect you from inflation and price volatility. But it's not smart to hold it if your only intention is to use it.
You will need to declare the value of gold if you intend on selling it one day. This could impact how capital gains taxes you owe for cash investments.
A financial planner or accountant should be consulted to discuss your options.
Statistics
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
