Do Kwon, the founder and CEO of Terraform Labs, recently appeared in a Montenegro court, where he refuted any knowledge of the alleged forged travel documents he possessed.
During questioning by the prosecution, Kwon attributed the blame to a “Chinese-named agency” without providing further details. He explained that he had entrusted the agency based on a recommendation from a trusted friend but could not recall the exact name, emphasizing its Chinese origin.
Kwon’s arrest occurred in May when he and Terraform’s former CFO, Han Chong-joon, were apprehended while reportedly attempting to board a flight to the United Arab Emirates. Both individuals face charges of traveling with forged documents, which they deny. Additionally, they are wanted in their home country of South Korea for fraud-related allegations.
Prior to the collapse of Terra ecosystem coins over a year ago, Kwon’s businesses in South Korea had already been shut down, prompting him to leave the country. The situation has been further complicated by extradition requests from prosecutors in South Korea, the United States, and Singapore, despite Kwon’s two bail applications.
However, the absence of an extradition treaty between Montenegro and South Korea poses a potential obstacle to Kwon’s deportation.
As the legal proceedings continue, the future remains uncertain for Kwon and his involvement in Terraform Labs. This case highlights the complexities of cross-border legal matters and the challenges authorities face in bringing individuals to justice across different jurisdictions.
Compiled by Coinbold
