Do Kwon, the founder of Terraform Labs, has received a four-month jail sentence from a Montenegro court after being found guilty of document forgery.
The court’s verdict was announced on Monday, with the sentence taking into account the time spent in detention. This article provides an overview of the case, including the arrest, ongoing custody, and the charges faced by Do Kwon and another Terra executive.
In March, Do Kwon, a South Korean national, and Han Chang-Joon, another executive at Terraform Labs, were arrested in Montenegro for alleged possession of falsified documents.
Despite local courts approving bail last week, the two individuals have remained in custody. The recent verdict also resulted in the confiscation of two Costa Rican passports, two Belgian passports, and two identity cards belonging to Do Kwon and Han.
Prior to his arrest in Montenegro, Do Kwon denied being on the run, despite authorities in South Korea initiating an international search for him.
Both South Korean and U.S. authorities have sought his extradition to face criminal charges related to the collapse of the multi-billion dollar crypto enterprise, Terra, in May 2022. The efforts included requesting a red notice from Interpol to assist in locating Do Kwon.