A Montenegro court has sentenced disgraced Terraform Labs founder Do Kwon and one of his executives, Han Chang-Joon, to four months in jail for charges involving document forgery.
Terra Executives Found Guilty
In a Monday court ruling, the Basic Court in Podgorica, Montenegro, revealed that Kwon and Chang-Joon were guilty of using fake Costa Rican passports. The court ordered the confiscation of the forged passports, along with two Belgian passports and two identity cards belonging to the duo.
A local news outlet reported last Friday that Kwon and his partner pleaded not guilty regarding falsified passports. They argued that the forged passports were received from a reputable agency in Singapore.
Recall that two months ago, Kwon and his accomplice were intersected and arrested by Montenegro police on their way out of the country via a private jet. Since then, they have remained in the custody of the government authorities. Last month, prosecutors charged Terra bosses with falsifying their identity in a supposed flee to Dubai.
While passing the sentence on to the defendants, Judge Ivana Bečić who presided over the case, noted that the four-month jail term duration started on March 23rd, the day they were detained by the local police.
Kwon’s Run from Lawsuit
The crash of the Terra blockchain, an ecosystem developed by Terraform Labs, saw the loss of billions of dollars, affecting crypto users across the globe. This sparked a cascade of events, leading to an extensive bearish trend in the past year.
After the crash, Kwon concealed himself for several months. Government authorities in several countries like the United States and South Korea have made moves to arrest him.
The International Criminal Police Organization (INTERPOL) also issued a red notice regarding the South Korean fugitive, declaring him a wanted man. Still, Kwon failed to submit himself to any of these authorities until he was apprehended in Montenegro.
