Do Kwon Charged In Montenegro And New York After Thursday Arrest

Terraform Labs Founder Do Kwon was charged with travel document forgery and arraigned before a Podgorica Basic Court on Friday along with an associate identified as Han Chang-joon.

The pair appeared in court hours after they were seized by Montenegrin police in a Podgorica airport. Interior Minister Filip Adzic shared the news via Twitter as previously reported. Kwon was allegedly trying to flee the country to Dubai using a forged Costa Rican passport. The Interpol office in San Jose, Costa Rica confirmed that the travel documents were indeed fake, a Friday statement from Minister Adzic said.

Authorities also found a forged Belgian passport after searching Kwon’s belongings, DL News reported citing confirmation from Interpol officials in Brussels. Do Kwon was charged with fraud and securities violations by federal prosecutors from the State of New York after his arrest on Thursday.

Kwon agreed with others to defraud purchasers of cryptocurrencies issued by TFL, by deceiving those purchasers about the effectiveness of the algorithmic mechanism that purportedly ensured the stability of UST’s price through false statements and market manipulation.

The U.S. Securities and Exchange Commission filed civil charges against Do Kwon in February over the $40 billion crash of TerraLUNA and TerraUST.

Extradition For Interpol-Wanted Do Kwon

Do Kwon’s whereabouts have been a hot topic ever since Terra collapsed and torched over $40 billion from investors’ pockets. Following Thursday’s arrest in Podgorica, authorities from Singapore, South Korea, and the U.S. engaged Montenegrin police supposedly regarding extradition. Kwon is wanted by Interpol and South Korean police over Terra’s crash.

Branko Anđelic, a lawyer for Kwon and Han, claimed that authorities had not yet tabled extradition talks.

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