Do Kwon Charged With Fake Passport Use, Facing 5-year Imprisonment

Key Points:

• Terra co-founder Do Kwon has been charged with using a fake passport to travel to Dubai and may face imprisonment if found guilty.
• Kwon has been charged with multiple fraud charges in the US and South Korea for his alleged role in the $60 billion collapse of the Terra blockchain network last May.
• Kwon and his associate were arrested in Montenegro last month for attempting to travel to Dubai with fake identification documents.

Do Kwon, co-founder of Terra, faces 3-5 years imprisonment after being charged with using a fake passport to travel to Dubai.

Do Kwon, co-founder of Terra, has been charged by prosecutors in Montenegro for attempting to fly to Dubai with a fake Costa Rican passport. Kwon was arrested on the tarmac of Podgorica Airport and may face three months to five years of imprisonment if found guilty.

Kwon has been on the run from Interpol and has been charged with multiple fraud charges in the US and South Korea for his role in the $60 billion collapse of the Terra blockchain network last May. The ongoing prosecution may delay the extradition efforts of US and South Korean authorities.

Kwon was once known as the “Crypto King” for his ambitions to create a rival to Ethereum. However, the collapse of the Terra blockchain network led to him being charged with multiple fraud charges in several countries. Kwon and his associate, Han Chang-Joon, were arrested in Montenegro last month for attempting to travel to Dubai with fake identification documents.

Last week, it was reported that Han had purchased a $2.2 million apartment in Belgrade last year, where the two men had been living and even formed a new company. Serbian prosecutors seized the apartment after the news broke.

Kwon and Han were initially ordered to be held for 30 days after their arrest, and the State Prosecution office has requested an extension of their detention. Their lawyer in Montenegro, Branko Anđelić, has not yet commented. The court’s decision on the extension of detention will be made public along with all available information regarding the case.

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