In a recent Montenegro court hearing, Terraform Labs founder and CEO Do Kwon claimed he did not know the “fake” travel documents he was allegedly trying to leave the country with were forged. Instead, he blamed a “Chinese-named agency” for providing the falsified documents. Kwon stated that he received his Costa Rica passport through a Singapore agency recommended by a friend, while his Belgian passport came from a different agency.
Kwon, who appeared in court with a freshly shaved head, was unable to name the agency when asked by the prosecution. He claimed that the agency had a “Chinese name,” but could not remember exactly what it was called. Meanwhile, LUNC prices remained relatively stable on June 18 as the news of Kwon’s court appearance broke.
Kwon and Terraform’s former chief financial officer Han Chong-joon were arrested in May for allegedly attempting to board a plane bound for the UAE on forged documents. Both Kwon and Han deny these charges. However, they are wanted in their native South Korea on fraud charges.
Following the collapse of the Terra ecosystem coins over a year ago, Kwon shuttered his South Korean businesses and appears to have fled the country. During his latest court appearance, Kwon also insisted on the innocence of Han, stating, “If somebody needs to be punished for [using a] fake passport, let that be me alone.”
Kwon has applied for bail twice, while prosecutors in South Korea, the US, and Singapore have requested his extradition to face charges. However, since Montenegro and South Korea have never signed an extradition treaty, deporting Kwon may prove challenging.
Earlier this month, a Higher Court representative said, “The judge of the Higher Court has ordered [that Kwon and Han] be detained for six months following the opening of an extradition case at the request of South Korea.”
While Kwon’s case highlights the potential risks of relying on third-party agencies for sensitive documents, it also demonstrates the complexities surrounding international prosecution. The ongoing legal proceedings will continue to draw the attention of the crypto community, especially as the future of Terraform Labs and LUNC prices hang in the balance.
Source: Cryptonews
