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In the latest crypto-related news, a Montenegro court has sentenced Terra co-founder Do Kwon to four months in prison after being found guilty of using a fake passport.
Kwon allegedly fled to Montenguro and attempted to flee the country with fake documents as South Korea and the United States tried to detain him over the collapse of Terra LUNA and TerraUSD.
according to reportthe CEO of Terraform Labs was sentenced along with Han Chang-jun, former CEO of South Korea-based payment app Chai.
Kwon and Jang Jun were arrested in March while trying to flee to Dubai, and prosecutors charged them with possessing fake passports with Costa Rica and Belgium details. The two had pleaded not guilty.
Ahead of sentencing, Kwon’s $400,000 bail was reportedly canceled by the High Court. The former cryptocurrency mogul, whose crypto platform collapsed last May wiping out more than $40 billion in cryptocurrency value in a matter of days, is already facing a mandatory six-month extension of detention and is now in Montenegro. faces four months in prison.
Kwon is not only wanted in South Korea, but has also been indicted on multiple charges, including fraud, and may be extradited to the United States.
