Do Kwon charged in Montenegro

Montenegrin authorities have charged Terraform Labs (TFL) co-founder and CEO Do Kwon with the forgery of documents. Reuters reports.

According to media reports, Kwon was detained while attempting to board a flight to Dubai with an accomplice. The latter was charged with a similar offence. Police said that during a search of their luggage they found a set of counterfeit passports from Costa Rica and Belgium.

The hearing on the case is scheduled for Friday, 24 March. In a comment to AFP, a court spokesperson clarified that extradition would be considered at the hearing, avoiding mention of the country that submitted the request.

#UPDATE Montenegro on Friday charged fugitive cryptocurrency entrepreneur Do Kwon with forgery, with the South Korean expected to appear in court for extradition proceedings ➡️ https://t.co/RvkVZLiZ8b

— AFP News Agency (@AFP) March 24, 2023

Following the Terra collapse, the Southern District of Seoul prosecutors заинтересовалась in TFL’s activities, and the court выдал ордер на арест До Квона and five others.

“South Korean prosecutors will take steps to bring Do Kwon back. We are working on this process,” the watchdog agency’s press office said in a statement to the agency.

In February 2023, the U.S. Securities and Exchange Commission предъявила Terraform Labs and its CEO with charges of orchestrating a multi-billion-dollar securities fraud scheme.

On 23 March, Kwon was detained at Podgorica Airport at the request of U.S. law enforcement agencies, Сингапура and South Korea.

As a reminder, on the same day the U.S. Attorney’s Office for the Southern District of New York подала иск against the co-founder of TFL. He was charged with conspiracy to commit fraud and market manipulation, securities fraud, and misleading investors.