Do Kwon: I didn’t know about the forgery
The founder of the Terraform Labs ecosystem, Do Kwon, said in a Montenegrin court that he did not know that his documents were fake when he took off from Podgorica airport.
According to the agency Segye Ilboaccording to Do Kwon, he obtained fake passports, including one from Costa Rica, through unnamed “agencies”.
“I got a Costa Rican passport after filling out the paperwork requested by a Singaporean agency that a friend recommended to me. I got my Belgian passport through another agency,” he said.
Kwon added that since he had been traveling with a Costa Rican passport for “many years”, there was no reason to doubt it was a fake. However, he said he could not “remember exactly” which agency handled his paperwork. Kwon only knew that his name was “in Chinese”.
Donations to the former Minister of Finance of Montenegro
In addition to denying forgery, Kwon denied accusations that he made any financial donations to former Montenegrin Finance Minister Milojko Spaić, leader of the Europe Now political party.
Spaich also stated that he denied having ties to Kwon. Prime Minister of Montenegro Dritan Abazovic said earlier that he had received a note describing Do Kwon’s illegitimate political donations since 2018.
Arrest of Do Kwon in Montenegro
On April 20, Montenegrin authorities filed charges against Do Kwon and his partner Jang Jung after they were detained at the capital’s airport on March 23. They wanted to fly from Podgorica on fake passports to Dubai.
The founder of Terraform Labs will be held for up to six months while a court considers South Korea’s request for his extradition. In his home country, he could face the maximum sentence in the case of fraud – more than 40 years in prison. In addition, Kwon faces a prison in the United States – the New York prosecutor’s office and the Securities and Exchange Commission (SEC) have filed their charges.
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