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Terraform Labs founder Do Kwon has been handed a four-month jail sentence by a court in Montenegro for his involvement in document forgery, following a conviction.
On Monday, a Basic Court in Podgorica, the capital of the country, pronounced the verdict, stating that the time spent in custody would be taken into account as part of the sentence.
In March, a South Korean citizen was apprehended in a Balkan country on suspicion of possessing forged documents, along with Han Chang-Joon, another executive from Terra. Despite local courts granting bail to both individuals last week after a second attempt, they have been detained ever since their arrest.
The court, in its verdict, ordered the seizure of not only two Costa Rican passports and two Belgian passports but also two identity cards belonging to Kwon and Han.
Prior to Kwon's apprehension in Montenegro, the ex-executive consistently asserted that he was "not on the run," despite South Korean authorities launching a worldwide manhunt, which involved seeking a red notice from Interpol. Both South Korean and U.S. officials have sought his extradition to prosecute him for criminal offenses linked to the downfall of the multi-billion dollar cryptocurrency venture, Terra, in May 2022.
A High Court in Podgorica has recently affirmed to CoinDesk that Kwon will be held in "extradition custody" for a duration of six months while South Korea's extradition request is being evaluated.
Source Coindesk
