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Do Kwon Receives 4-Month Prison Sentence for Document Forgery

Updated: Jul 20, 2023

Do Kwon was arrested in Montenegro in March.
Image courtesy: Washington Post

PODGORICA, ME – On Monday, Terraform Labs founder Do Kwon was handed a four-month prison sentence by a Montenegro court after being convicted of possessing forged travel documents. The Basic Court in Podgorica, the country's capital, specified that the time spent in detention would be counted toward an overall sentence.

Do Kwon En Route to Dubai

Kwon was apprehended in March on the grounds of possessing counterfeit documents, along with another Terra executive, Han Chang-joon. Kwon and Chang-joon were passing through Montenegro on their way to Dubai, when they were found in possession of two Costa Rican passports, two Belgian passports, and two identity cards.

Prior to his arrest in Montenegro, Kwon had maintained that he was not attempting to flee, even as South Korean authorities initiated an international manhunt, including a request for a red notice from Interpol. Both South Korean and U.S. authorities have sought his extradition to face charges related to the collapse of Terra, the multi-billion dollar cryptocurrency enterprise, which occurred in May 2022.

Extradition Custody

The High Court in Podgorica disclosed to that Kwon would be held in "extradition custody" for a period of six months while South Korea's extradition request is being considered. The court's decision means that Kwon will remain in detention until a final determination is reached regarding his potential handover to South Korean authorities.



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