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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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After Kwon was arrested, the prosecutors indicated that he had paid the law firm before the collapse. As the legal battle between Do Kwon and South Korean prosecutors continues, the prosecutors stated that the CEO of Terraform Labs Do Kwon transferred some money to a law firm before TerraUSD and
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South Korea and the U.S. have requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro. Kwon is facing criminal charges in both countries after his $60 billion crypto ecosystem came crumbling down, hurting the industry globally. Original Source
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South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent 9 billion won ($7 billion) to Kim & Chang — a top South Korean law firm — right before the spectacular collapse of the Terra ecosystem. Kwon’s decision to send millions to the law firm was flagged by prosecutors as a
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Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon. South Korea officials continue to grill former Terraform Labs co-founder Kwon Do-Hyung, popularly known as Do Kwon, following his arrest earlier last month in Montenegro as he attempted to flee to Dubai.
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South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates. Out of the $314 million identified illicit assets, prosecutors have linked about 91.4 billion won ($69 million) of the specified amount to Kwon.Although Kwon amassed millions, none
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Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a fake passport, according to his lawyer in the country. The fugitive crypto entrepreneur may also have to serve time in prison before he is extradited from the Balkan nation, its justice
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Authorities from both the United States and South Korea have made efforts to have Terra co-founder Do Kwon extradited to their respective countries following his arrest in Montenegro.At a March 29 press conference, Montenegro’s Justice Minister Marko Kovac said the United States made diplomatic efforts to ask Kwon be handed
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“Primacy is given to the court proceedings led in Montenegro,” Kovac said, speaking through an interpreter. “If they are convicted for the criminal offense of falsifying identification documents, only after they served their prison sentence is it expected that they will be extradited.” Source
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Official records gathered from the outlet describe a company called Codokoj22, which was registered in Belgrade by Kwon and his business partner Han Chang-joon who is named as a co-director. Terraform Labs co-founder Do Kwon established a firm in Serbia for less than $1, weeks after being alerted with an Interpol
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