Do Kwon Guilty of Passport Forgery; Sentenced to 4 Months in Montenegrin Prison

Kwon has been convicted for passport forgery 13 months after the Terra meltdown; will extradition follow?

Key Takeaways

• Do Kwon and Han-Chang joon were sentenced to four months in prison in Montenegro for document forgery.
• Montenegro police confiscated two Costa Rican passports, two Belgian passports and two identification cards.
• A High Court of Podgorica told CoinDesk that the two will be held for an additional six months for “extradition custody.”

Do Kwon, the founder and former CEO of Terraform Labs, and former chief financial officer of Terra, Han Chang-joon, has been found guilty of passport forgery and sentenced to four months in prison by the Basic Court in Podgorica, according to an official report. His time already spent in prison awaiting the sentence will be included in his prison time.

Two Costa Rican passports, two Belgian passports and two identification cards were confiscated at the time of the arrest, with Kwon stating, “If I had suspected it was a fake passport, I would not have traveled to many countries,” according to a June 16 report. Kwon further clarified that a Chinese agency issued the documents, while the Montenegrin courts believe otherwise:

Both the United States and South Korea applied to extradite the former CEO, citing eight counts of fraud in the U.S. and fraud and running a Ponzi scheme in South Korea. A representative of the High Court in Podgorica told CoinDesk that “Kwon will remain in ‘extradition custody’ for six months” while the Balkan country awaits the decision of extraditing to South Korea.