Do Kwon, founder of Terraform Labs, was found guilty of falsifying documents by a Montenegrin court on June 19 and sentenced to four months in prison. The term of detention is also included in the sentence.
Kwon was arrested in Montenegro in March along with senior executive Han Chang-Joon on suspicion of possessing counterfeit documents. Both men have remained in custody since their arrest, despite a court granting them bail for a second time last week.
Until he is arrested in Montenegro, South Korean authorities have requested a Red Notice from the International Criminal Police Organization (INTERPOL), and an international search has been carried out. He claimed that he had not escaped. Both South Korean and U.S. authorities have called for extradition to face criminal charges related to the May 2022 bankruptcy of multi-billion dollar cryptocurrency firm Terraform Labs.
A court recently granted CoinDesk that Kwon be placed in “extradition detention” for six months while South Korea’s request is being considered.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Do Kwon (edited by Terraform Labs, CoinDesk)
｜Original: Do Kwon Sentenced to 4 Months Jail in Montenegro Document Forgery Case