Ex-head of Terra faces charges of document forgery in Montenegro

Ex-head of Terra faces charges of document forgery in Montenegro

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Author: Robert Strickland (crypto expert)
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Ex-head of Terra faces charges of document forgery in Montenegro
Montenegrin prosecutor's office has filed charges of document forgery against former Terraform Labs head Do Kwon
Montenegrin prosecutors filed an indictment with the court that says Kwon manufactured and used a fake passport

Authorities in Montenegro have charged the former head of Terraform Labs Do Kwon with document fraud, Bloomberg reports. Prosecutors filed an indictment in court alleging that Kwon manufactured and used a fake passport and other identification documents while trying to fly from Podgorica to Dubai, DLNews has learned.

Kwon and Terraform CFO Han Chang Joon were arrested on March 23 at the Montenegrin capital airport for trying to leave the country with fake Costa Rican documents. They were also found in possession of South Korean and fake Belgian documents.

Kwon is accused by U.S. and South Korean authorities of fraud. Both countries requested his extradition to stand trial in the TerraUSD (UST) stablecoin and Luna token crash last May. But Montenegrin authorities announced in late March those extradition proceedings would not begin until after a local court case involving document fraud was heard.

Kwon had allegedly been hiding in Serbia for the past six months. In mid-April, the media drew the attention of law enforcement agencies to a luxury apartment in Belgrade. After checking the information on April 14, Serbian police searched it and sealed the apartment worth €2 million which Kwon had been hiding from law enforcement authorities for six months.

According to Serbian prosecutor Branko Stamenkovic, it is assumed that the apartment was bought with money from the illegal activities of Terra in South Korea. The official buyer is listed as Han Chang Joon, who was arrested along with Kwon.

If Kwon is convicted of forgery, he is not expected to be extradited until after serving time in a local prison.

 

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