The Montenegrin authorities have charged the co-founder and CEO of Terraform Labs (TFL) Do Kwon with forgery. This is reported Reuters.
According to the media, Kwon was detained while trying to board a flight to Dubai along with an accomplice. The latter was charged with a similar charge. Police said they found a set of fake passports from Costa Rica and Belgium during a search of their luggage.
A hearing in the case has been scheduled for Friday, March 24. In a commentary to AFP, a representative of the court specified that the issue of extradition would be considered at the meeting, avoiding specifying the country from which the request was received.
#UPDATE Montenegro on Friday charged fugitive cryptocurrency entrepreneur Do Kwon with forgery, with the South Korean expected to appear in court for extradition proceedings https://t.co/RvkVZLiZ8b
— AFP News Agency (@AFP) March 24, 2023
After the collapse of Terra, the Seoul Southern District Prosecutor’s Office became interested in TFL’s activities, and the court issued an arrest warrant for Do Kwon and five other people.
“South Korean prosecutors will take steps to return [До Квона]. We are working on this process,” the press service of the supervisory agency told the agency.
In February 2023, the US Securities and Exchange Commission filed charges against Terraform Labs and its CEO for orchestrating a multi-billion dollar securities fraud.
On March 23, Kwon was detained at the Podgorica airport at the request of law enforcement agencies in the United States, Singapore and South Korea.
Recall that on the same day, the New York Federal Attorney’s Office filed a lawsuit against the co-founder of TFL. He was charged with conspiracy to commit fraud and market manipulation, securities fraud, and misleading investors.
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