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Do Kwon’s final appeal to undo his incarceration in a Montenegrin prison was refused by a high court, leaving Terra’s former CEO awaiting extradition rather than freedom. The High Court in Podgorica rejected Kwon’s appeal to overturn his jail time issued by a lower court in Montenegro’s capital city. Per Nov. 16
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A court in Montenegro has found Do Kwon guilty of document forgery and has sentenced him to jail. Kwon will remain in custody longer pending the country’s response to an extradition request. CEO and co-founder of Terraform Labs Do Kwon has been found guilty of document forgery and sentenced to a
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The court has also ordered the confiscation of two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and fellow Terra executive Han Chang-Joon. Source
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During the hearing, the defendants indicated they had "property worth several million" and the bail amount will be paid by their wives, the court's statement said. Prosecution objected to the bail proposal, saying there was no guarantee that Kwon was not a flight risk. Source
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Prosecutors in Montenegro have reportedly issued the indictments to Terra co-founder Do Kwon after arresting the executive in late March.The Prosecutor’s Office of the State of Podgorica has indicted former Terraform Labs co-founder and former CEO Kwon for forgery of legal documents, the Korean industry-focused news agency Block Media reported
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