Report: Terraform Labs Co-Founder Do Kwon Charged by Montenegro Prosecutors

0 6

Report: Terraform Labs Co-Founder Do Kwon Charged by Montenegro Prosecutors

knife

Nearly a month after Do Kwon’s arrest by Montenegro law enforcement, local prosecutors have now indicted the co-founder and CEO of Terraform Labs. The decision to indict Kwon is likely to delay attempts to extradite him to South Korea and the United States where he faces several charges. Local prosecutors have reportedly asked a court to extend Kwon and his associate’s detention.

Kwon’s Hideout Seized by Local Law Enforcement

Prosecutors in Montenegro have reportedly hit Terraform Labs co-founder and CEO Do Kwon with charges of using a fake passport and other identification documents when he attempted to flee the Balkan state on March 23, 2023. According to a DL News report, Kwon’s indictment is likely to complicate efforts to extradite him to the U.S. and South Korea where he faces multiple charges.

As previously reported by Bitcoin.com News, Kwon and his associate Han Chang-Joon were arrested while attempting to leave for Dubai via a private jet. At the time of his arrest, Kwon was reportedly found in possession of a fake Costa Rican passport.

Before attempting to leave Montenegro, Kwon and Han lived in a Belgrade apartment that was acquired for about $2.2 million by the latter in Sept. 2022. According to local media reports, the apartment where Kwon is thought to have been holed up for six months was recently seized by local law enforcement.

Prosecutors Seek Extension of Kwon’s Detention

Following the two men’s capture by local law enforcement, a Montenegro court initially ruled that the duo should remain behind bars for 30 days. However, as noted in the DL News report, more days are likely to be added if the court gives in to the prosecutors’ demand for an extension.

“After the decision on the extension of detention by the court, the public will be informed about all available information regarding this case,” Maja Kosovic, a spokesperson of the court reportedly said.

According to the report, if Kwon and Han are convicted, they are likely to be handed prison terms that range between three months and five years.

What are your thoughts on this story? Let us know what you think in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 69,755.69
ethereum
Ethereum (ETH) $ 3,534.43
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 612.33
solana
Solana (SOL) $ 184.02
staked-ether
Lido Staked Ether (STETH) $ 3,521.47
xrp
XRP (XRP) $ 0.614585
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.213519
cardano
Cardano (ADA) $ 0.640036
avalanche-2
Avalanche (AVAX) $ 53.33
shiba-inu
Shiba Inu (SHIB) $ 0.000031
the-open-network
Toncoin (TON) $ 4.82
polkadot
Polkadot (DOT) $ 9.41
bitcoin-cash
Bitcoin Cash (BCH) $ 592.05
chainlink
Chainlink (LINK) $ 18.85
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,770.69
tron
TRON (TRX) $ 0.119754
uniswap
Uniswap (UNI) $ 12.61
matic-network
Polygon (MATIC) $ 0.988652
internet-computer
Internet Computer (ICP) $ 17.41
near
NEAR Protocol (NEAR) $ 6.98
litecoin
Litecoin (LTC) $ 98.15
aptos
Aptos (APT) $ 17.11
leo-token
LEO Token (LEO) $ 6.07
blockstack
Stacks (STX) $ 3.52
filecoin
Filecoin (FIL) $ 9.62
dai
Dai (DAI) $ 1.00
cosmos
Cosmos Hub (ATOM) $ 12.13
ethereum-classic
Ethereum Classic (ETC) $ 32.06
arbitrum
Arbitrum (ARB) $ 1.64
immutable-x
Immutable (IMX) $ 2.96
render-token
Render (RNDR) $ 10.94
stellar
Stellar (XLM) $ 0.141384
crypto-com-chain
Cronos (CRO) $ 0.151907
hedera-hashgraph
Hedera (HBAR) $ 0.113516
okb
OKB (OKB) $ 63.33
the-graph
The Graph (GRT) $ 0.400212
mantle
Mantle (MNT) $ 1.17
optimism
Optimism (OP) $ 3.63
dogwifcoin
dogwifhat (WIF) $ 3.56
bittensor
Bittensor (TAO) $ 530.23
fetch-ai
Fetch.ai (FET) $ 3.23
vechain
VeChain (VET) $ 0.045363
maker
Maker (MKR) $ 3,539.79
pepe
Pepe (PEPE) $ 0.000008
injective-protocol
Injective (INJ) $ 36.96
kaspa
Kaspa (KAS) $ 0.135612
thorchain
THORChain (RUNE) $ 9.07
theta-token
Theta Network (THETA) $ 2.93
fantom
Fantom (FTM) $ 0.983455
arweave
Arweave (AR) $ 40.95
sui
Sui (SUI) $ 2.09
first-digital-usd
First Digital USD (FDUSD) $ 1.01
celestia
Celestia (TIA) $ 14.69
lido-dao
Lido DAO (LDO) $ 2.82
monero
Monero (XMR) $ 135.33
gala
GALA (GALA) $ 0.064714
floki
FLOKI (FLOKI) $ 0.000241
sei-network
Sei (SEI) $ 0.835321
algorand
Algorand (ALGO) $ 0.270452
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,889.97
flow
Flow (FLOW) $ 1.35
quant-network
Quant (QNT) $ 134.60
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,605.48
aave
Aave (AAVE) $ 126.10
bitcoin-sv
Bitcoin SV (BSV) $ 94.83
beam-2
Beam (BEAM) $ 0.03513
conflux-token
Conflux (CFX) $ 0.47497
bonk
Bonk (BONK) $ 0.000027
singularitynet
SingularityNET (AGIX) $ 1.36
wrapped-eeth
Wrapped eETH (WEETH) $ 3,654.38
jupiter-exchange-solana
Jupiter (JUP) $ 1.25
elrond-erd-2
MultiversX (EGLD) $ 59.83
dydx-chain
dYdX (DYDX) $ 3.44
bittorrent
BitTorrent (BTT) $ 0.000002
ribbon-finance
Ribbon Finance (RBN) $ 1.67
starknet
Starknet (STRK) $ 2.17
havven
Synthetix Network (SNX) $ 4.82
the-sandbox
The Sandbox (SAND) $ 0.699103
axie-infinity
Axie Infinity (AXS) $ 10.89
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,536.57
ethena-usde
Ethena USDe (USDE) $ 1.00
bitget-token
Bitget Token (BGB) $ 0.99833
tezos
Tezos (XTZ) $ 1.42
ordinals
ORDI (ORDI) $ 65.18
worldcoin-wld
Worldcoin (WLD) $ 8.30
ecash
eCash (XEC) $ 0.000069
pyth-network
Pyth Network (PYTH) $ 0.889311
mina-protocol
Mina Protocol (MINA) $ 1.23
gatechain-token
Gate (GT) $ 9.82
chiliz
Chiliz (CHZ) $ 0.144413
axelar
Axelar (AXL) $ 2.08
ondo-finance
Ondo (ONDO) $ 0.880095
flare-networks
Flare (FLR) $ 0.034189
apecoin
ApeCoin (APE) $ 2.00
decentraland
Decentraland (MANA) $ 0.670945
eos
EOS (EOS) $ 1.09
ronin
Ronin (RON) $ 4.04
whitebit
WhiteBIT Coin (WBT) $ 8.44