Do Kwon, Terra founder, who was on the run for some time, was recently arrested by Montenegro authorities. The government of Montenegro charged him with falsifying local documents and is currently awaiting extradition. While the crypto community was reflecting on the downfall of Terra, which occurred a year ago, Kwon denied some of the charges against him.
According to recent reports, Do Kwon went on to plead not guilty at Basic Court in Podgorica, Montenegro. Kwon and Terra’s former chief financial officer, Han Chang-joon, were detained on an international warrant. The duo was found with Belgian and Costa Rican travel documents as well as a South Korean passport. Since the Belgian and Costa Rican passports were falsified, the duo was charged.
It is important to mention that the use of falsified documents is a criminal offense in the region. Individuals found guilty of this can face imprisonment of up to five years. The defense lawyer, Branko Andjelic, suggested releasing the Terra duo on a bail amount of 400,000 euros which is about $437,240 each. However, the prosecutor Haris Sabotic, dismissed this proposal, stating that they have sufficient financial resources but no intention of staying in Montenegro.
While both Do Kown and Han Chang-Joon claim that their Costa Rican passports are valid, only time will bring out the truth. The next court hearing for the case is scheduled for June 16.
Terra co-founder Do Kwon to face first court trial in South Korea
The co-founder of Terra, Daniel Shin, has been indicted on various charges linked to the network’s collapse. Along with seven others, he is facing charges of fraud, breach of duty, and embezzlement. The Seoul Southern District Court in South Korea will hold the first trial on May 26 to address these charges. It should be noted that South Korea has also been prepping for the extradition of Do Kwon.