1 year ago
Do Kwon, the laminitis and erstwhile CEO of Terraform Labs, mislaid an entreaty aft being convicted of passport fraud, a Montenegro tribunal ordered connected Nov. 16.
In June, Kwon and chap Terra subordinate Han Chang-joon were convicted of falsifying passport documents by the Basic Court successful Podgorica, Montenegro’s superior city. Both defendants were sentenced to 4 months successful situation astatine that time.
The defendants appealed the charges soon after. However, successful its existent statement, the High Court successful Podgorica reaffirmed the basal court’s earlier condemnation and sentence. It said that the tribunal “correctly and wholly determined the factual situation.” It besides said that the basal tribunal rightly applied Montenegro’s transgression codification and took each circumstances into relationship successful its prime of sanctions and successful determining their extent.
The tribunal added that the behaviour of the 2 individuals and the information that the tribunal did not find whether the 2 utilized the falsified question documents were some taken into account. It said the confiscation of Kwon and Chang-joon’s individuality cards was indispensable to apprehension the 2 individuals and that doing truthful prevented aboriginal transgression acts.
Do Kwon faces transgression charges elsewhere
Kwon is separately wanted successful South Korea and the U.S. connected transgression charges related to the failed stablecoin task Terra. Another set of charges from the U.S. Securities and Exchange Commission (SEC) charges Kwon and Terra with securities violations.
Kwon’s overseas passport fraud condemnation seemingly prevented the U.S. from extraditing him to attest successful the securities case, according to tribunal statements from Terraform Labs connected Sept. 27. It is unclear however the existent condemnation affects his 2 transgression cases.
Despite wide actions against Kwon himself, his projects stay somewhat active. The TerraUSD (UST) stablecoin and circumstantial associated cryptocurrencies mislaid astir oregon each of their worth successful May 2022. Terraform Labs remains operational nether different enactment and has not closed oregon filed for bankruptcy since November 2023.
The station Terraform Labs’ Do Kwon loses entreaty successful Montenegro passport fraud case appeared archetypal connected CryptoSlate.
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