2023-04-20 23:01:09
© Reuters Do Kwon de Terra (LUNA) is charged in Montenegro and has extended prison terms
CriptoFácil – Do Kwon, co-founder of Terraform Labs, behind the failed project Terra (LUNA), was officially charged in Montenegro, where he was arrested on March 23.
According to a report by local portal DL News, published this Thursday (20), prosecutors in Montenegro accused Do Kwon of making and using a false passport and other identification documents in his attempt to fly to Dubai last month. Prosecutors filed the indictment with the Montenegrin Basic Court.
As reported by CriptoFácil, Montenegrin police arrested Do Kwon at Podgorica airport with forged documents, including a Costa Rican passport. The police also arrested Han Chang-Joon, Kwon’s partner and traveling companion, at the same time. Like Do Kwon, South Korea also accuses Han of financial fraud.
Extradition of Do Kwon
A few days after the arrest, authorities in the United States and South Korea – Do Kwon’s home country – requested his extradition. Both countries investigate Kwon for the ruin of the Terra (LUNA) project. He faces charges of conspiracy, fraud, market manipulation and various other crimes. The collapse of the Terra network’s LUNA cryptocurrency and stablecoin UST in May 2022 left an estimated $60 billion in damage.
But already at that time the Montenegrin authorities said that the extradition might not take place immediately. That’s because Montenegro’s judicial processes would have priority and there would still be the trial of the duo for the crime of falsifying identification documents.
Now, with the formal indictment, requests by US and South Korean authorities to extradite Kwon could take even longer.
prolonged prison
After the arrest, a court initially ordered Kwon and Han to be imprisoned for 30 days. That is, they would be “free” this week. But this Thursday (20), Haris Šabotić, a state prosecutor, said he had asked the court to extend the detention.
“Following the decision on the extension of the detention by the court, the public will be informed of all available information about this case,” said Maja Kosovic, spokeswoman for the court, in a note to DL News.
If convicted on the forged documents charges, the two could face prison sentences ranging from three months to five years.
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