Terra’s Do Kwon Receives 4-Month Jail Sentence in Montenegro – Montenegro’s court has rendered a verdict declaring Do Kwon, co-founder of Terraform Labs, responsible for the usage of a fraudulent passport from Costa Rica. Consequently, he has been given a four-month prison sentence for this wrongdoing.
Based on the decision made by the Montenegrin court, Do Kwon, also recognized as Kwon Do-Hyung, has been found guilty of possessing and attempting to utilize a counterfeit passport. The court’s statement specifically indicates that Kwon has been convicted of the criminal act of forging official documents. Montenegrin law enforcement authorities will confiscate Kwon’s travel papers, comprising a Costa Rican passport, a Belgian passport, and two other identification documents.
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The court has imposed a four-month jail sentence on Kwon, as stated in a translated court statement that mentions “all relevant circumstances were taken into consideration in determining the severity of the sentence.” Kwon has an eight-day window to lodge an appeal following the receipt of a written copy of the court’s judgment.
Following the granting of bail to Kwon, the ex-executive of Terraform Labs, at a specified sum of $435,000, the Montenegrin High Court decisively overturned the previous bail decision made by the lower court on May 24, 2023. Marija Rakovic, a spokesperson for the court, communicated this official information directly to Bloomberg. So far, Kwon has been imprisoned in Montenegro for a total of 88 days.
Unless he lodges an appeal against the judgment, it is expected that he will spend an additional 122 days behind bars. Reports suggest that Montenegro’s penitentiaries are overcrowded and regarded as distressing. In the meantime, both South Korea and the United States are actively engaged in negotiations to establish an extradition treaty with Montenegro, with the objective of bringing Kwon to face charges in their respective nations.
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