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The co-founder and former CEO of Terraform Labs, Do Kwon, has been sentenced to prison. The high-profile crypto entrepreneur received a four-month sentence from a Montenegrin court for attempting to travel on a falsified passport.
Kwon and CFO Han Chong-Joon were arrested in Montenegro in March. Kwon's firm is behind Terra-LUNA ecosystem that crumbled last year, wiping out over $40B.
Do Kwon has made a name for himself in the crypto and the political sphere without a shadow of doubt. A good name?
Chinese crypto journalist and blogger Colin Wu has taken to Twitter to shared the news about Terra founder Do Kwon. Terraform Labs and Terra ecosystem powered by LUNA token and UST stablecoin collapsed about a year ago, causing the crypto market to dive in deep in the red.
Terraform Labs founder sentenced to four months in jail after being found guilty of using a false Costa Rican passport.
The Montenegro Basic Court on Monday ruled that Terra co-founder Do Kwon and former chief financial officer Han Chang-joon are found guilty in the passport forgery case and sentenced to four months in jail. Montenegro's authorities expedite their investigations and legal procedure before Terra co-founder Do Kwon is extradited to South Korea within the next
A Montenegro Court sentenced TerraUSD creator Do Kwon to four months in jail for forging travel papers. The Terraform Labs founder was set to remain in Montenegrin custody till next year as authorities consider extradition requests from South Korea and the U.S. South Korean investigators could seek a 40-year sentence for Do Kwon after his company's multi-billion collapse last summer.
A court in Montenegro has sentenced cryptocurrency entrepreneur Do Kwon, who is charged in the U.S. with a multibillion-dollar
Disgraced crypto king Do Kwon has been convicted of using forged passports in Montenegro and sentenced to four months in prison. He is also wanted by US prosecutors on fraud charges.
A Montenegro court handed down prison sentences to Do Kwon, founder of the Terra (CRYPTO: LUNA) blockchain, and Terra executive Han Chang-Joon for attempting to flee the country using counterfeit Costa Rican passports. The incident, which took place in March, saw the duo trying to board a private jet.
The co-founder and CEO of Terraform Labs, Do Kwon, has been sentenced to four months imprisonment by a Montenegrin court, according to a June 19 statement. The court found Kwon and his associate, Han Chang-Joon, guilty of using forged travel documents while attempting to board a private jet to Dubai in March.
Previously, Kwon claimed that he had no idea the passport he carried when caught was fake.
The court has also ordered the confiscation of two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and fellow Terra executive Han Chang-Joon.
Do Kwon has been found guilty of using a fake passport in an attempt to leave Montenegro in March. He was sentenced to four months in jail.
Kwon's denial comes as a response to the accusations linking him to the forged travel documentation and alleged financial ties with Milojko Spajić. The Terra founder asserts that these claims are baseless, denying personal involvement.
Terraform Labs' CEO Do Kwon told a court in Montenegro he never had any intentions of forging his travel documents.
Do Kwon has denied forging his travel documents. Kwon has told a Podgorica District Court that the fake passport and travel documents allegedly found on him were issued by an unnamed Chinese agency recommended by a friend.
Do Kwon, the founder, and CEO of Terraform Labs, recently appeared in a Montenegro court, denying any knowledge of the allegedly forged travel documents he was carrying. Kwon attributed the documents' origin to a “Chinese-named agency” and stated that he had trusted it based on a recommendation from a trustworthy friend.
Do Kwon appears to be proving his innocence to the forgery allegations in a Montenegro court with a complete shift to a Chinese 3rd party.
Allegations surface against a Chinese agency for passport forgery, raising concerns about privacy and security.
In a recent court hearing in Montenegro, Do Kwon, the founder of Terraform Labs, denied allegations of forging travel documentation and refuted any financial connections with Milojko Spajić, the leader of the Europe Now party.
Do Kwon has denied forging travel documentation and refuted having any financial ties to Europe Now party leader Milojko Spajić.
During a recent hearing held on Thursday, June 15, representatives from Terraform Labs appeared in court in Manhattan to address allegations made by the US Securities and Exchange (SEC).
He also asserted that the person he was caught with was innocent.
