Montenegro court jails crypto entrepreneur Do Kwon for four months: Report
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Cryptocurrency entrepreneur Do Kwon, who created the failed stablecoin TerraUSD, being taken to court in handcuffs in Montenegro.
PHOTO: REUTERS
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SARAJEVO – A court in Montenegro sentenced cryptocurrency entrepreneur Do Kwon, who has been charged in the United States with a multibillion-dollar fraud, and his ally to four months in prison for using forged passports, local newspaper Vijesti reported on Monday.
A South Korean national, Kwon is the co-founder and former chief executive of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed in May 2022,
He was detained in late March along with Han Chang-joon, Terraform Labs’ former chief financial officer, as they tried to board a flight to Dubai at the airport of Podgorica, Montenegro’s capital, and charged with forging official documents.
The basic court in Podgorica had placed them both in 30-day pre-trial detention.
The police said that after arresting them, they found doctored Costa Rican passports, a separate set of Belgian passports, laptop computers and other devices in their luggage.
The sentence follows a court hearing last week, at which Do Kwon dropped his request for checking the authenticity of the Costa Rican passports after Interpol’s confirmation they were fake.
The South Korean and US authorities have sought the extradition of Kwon and Han and the handover of the computers.
Following Kwon’s arrest,
In late May, the higher court scrapped a bail of €800,000 (S$1.17 million) for the pair, saying neither the bill nor the duo’s promise that they would not run away once released from detention could be taken as a solid guarantee. REUTERS
