UpdatesJun 21, 2023

Do Kwon was sentenced to 4 months imprisonment in Montenegro

The founder of the fraudulent project Terra, as well as the cryptocurrency Luna, was convicted of using a false passport.

A South Korean businessman recently faced a sentence in a country on the Balkan Peninsula where he was arrested earlier this year. The person in question was detained at the airport with false travel documents. Currently, Do Kwon will have to serve a 4-month prison sentence in a detention facility located in Montenegro for the use of a counterfeit passport.

Do Kwon will spend the next 4 months in a Montenegrin prison

A few months ago, the wanted founder of a project based on digital currencies, bankrupt in 2022, was detained at the airport in Montenegro. It is worth noting that he traveled with his former subordinate - Han Chong-joon.

From a legal point of view, Do Kwon was arrested by the police in Montenegro because he wanted to leave the country using a false passport, which is a crime there. He used forged Costa Rican documents to confuse the vigilance of the police.

It is symptomatic that the companion of the founder and CEO Terry committed the exact same crime. According to local media reports, Do Kwon reportedly made a statement to a court in Montenegro that he had obtained forged passports and travel documents using "external" agencies.

Moreover, the accused businessman additionally admitted that he had been traveling with his Costa Rican passport for many years, therefore he had absolutely no reason to doubt its authenticity.

The CEO of Terraform Labs has denied any links with the politician from Montenegro

Recently, information has appeared in the media about an allegedly handwritten letter by Do Kwon, in which the entrepreneur indicates his ties to the leader of a political party called Europe Now. After these rumors appeared in the public sphere, Do Kwon explicitly denied the claims that he had made any financial donations to the account of former Montenegrin finance minister Milojko Spajić.