• Terraform Labs co-founder Do Kwon was sentenced to four months in jail by a Montenegro court for forging official documents.
• The duo has 8 days to file an appeal against the judgement after receiving a written notification from the court.
• South Korea and the U.S. are pursuing Do Kwon’s extradition, with South Korean prosecutors asking Interpol to place him on the agency’s red alert list across its 195 member nations.
Do Kwon Sentenced To Four Months In Jail For Forging Official Documents
A Montenegro court has sentenced Terraform Labs co-founder Do Kwon and a former executive to four months for forging official documents. The duo can appeal within eight days of receiving written notification from the court. Throughout his hearing, Kwon Do-hyung, also known as Do Kwon, has maintained his innocence though he accepted that there were mistakes when it came to managing Terra [LUNA].
Do Kwon Arrested By Montenegro Police
Montenegro police arrested South Korean national Do Kwan along with former Terra finance officer Han Chang-Joon in March for allegedly possessing falsified documents. Both have remained in detention since their arrest despite local courts approving bail last week.
South Korea And U.S. Pursuing Extradition Of Do Kwan
Kwon had been fleeing from authorities for months before entering South Korea and then fleeing to Singapore in the months leading to Terra’s crash in May 2022. In September 2022, South Korean prosecutors asked Interpol to place him on the agency’s red alert list across its 195 member nations; they also revoked his passport. Furthermore, in February this year, the Securities and Exchange Commission (SEC) sued Do Kwan and his company Terraform Labs for “orchestrating a multi-billion dollar crypto asset securities fraud” but his attorneys recently asked the judge to dismiss this action claiming that these claims of SEC were unwarranted.
No Extradition Treaty Between Montenegro & Other Countries
Although Montenegro does not have extradition treaties with either South Korea or the US at present, international agreements could still be made between countries which would allow extradition proceedings against those accused of criminal activities within their borders from other countries as well .
Conclusion
Do Kwan is expectedly going through an arduous legal process due to his alleged involvement in forging official documents and securities fraud related cases against him by both US and South Korean authorities who are currently seeking his extradition via international agreements with other countries if possible .
