Terraform Labs Co-Founder Do Kwon Charged by Montenegro Prosecutors

Terraform Labs Co-Founder Do Kwon Charged by Montenegro Prosecutors -Prosecutors in Montenegro have reportedly charged Terraform Labs co-founder and CEO Do Kwon with using a forged passport and other identifying documents to depart the Balkan state on March 23, 2023.

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According to DL News, Kwon’s indictment will likely hinder efforts to extradite him to the United States and South Korea, where he is facing various charges. As previously reported, Kwon and his associate Han Chang-Joon were apprehended while attempting to board a private jet bound for Dubai.

Kwon was apparently found in possession of a fake Costa Rican passport at the time of his detention. Before attempting to flee Montenegro, Kwon and Han lived in a Belgrade apartment purchased for approximately $2.2 million by the other person in September 2022.

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According to local media sources, local law officials recently confiscated the flat where Kwon is said to have been holed up for six months. Following their arrest by local law enforcement, the two men were initially sentenced to 30 days in prison by a Montenegrin court. However, as mentioned in the DL News story, if the court grants the prosecution’ request for an extension, further days are likely to be added.

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“After the decision on the extension of detention by the court, the public will be informed about all available information regarding this case,” Maja Kosovic, a spokesperson of the court reportedly said. According to the media outlet, if Kwon and Han are convicted, they will face prison sentences ranging from three months to five years.

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