• Terraform Labs founder Do Kwon and his colleague Han Chang-joon were sentenced to four months in prison for forgery of travel documents and possession of fake passports.
• Kwon was arrested in March in Montenegro, where he was attempting to flee for Dubai on a private jet.
• He is also facing criminal charges from South Korean and US prosecutors, as well as a $75 million lawsuit in Singapore.
Terraform Labs Founder Do Kwon Sentenced
A Montenegro district court has sentenced Terraform Labs founder Do Kwon to four months imprisonment. His colleague, Terraform’s former Chief Financial Officer, Han Chang-joon, received the same sentence. The duo are charged with forging travel documents and possessing fake passports.
Arrested at Podgorica Airport
Kwon was arrested in March at Podgorica airport while trying to flee for Dubai on a private jet. South Korea’s police confirmed that the person arrested was indeed him. Since then, Seoul Southern District Prosecutors have sought extradition of the Terraform founder.
Criminal Charges Faced by Kwon
Kwon faces criminal charges from both South Korean and US prosecutors over allegations of defrauding investors related to the $60 billion collapse of the Terra blockchain ecosystem in May 2022. Additionally, he is also facing a $75 million lawsuit initiated against him in Singapore.
Denying All Charges
Despite all charges against him, Do-Kwon has denied all allegations made against him and claims that he participated in a certain “golden passport scheme” from which he received the alleged fake passport .