Terraform Labs Co-Founder Do Kwon Faces Montenegro Indictment: Bloomberg
Kwon was arrested and charged with forgery in Montenegro last month.
Prosecutors in Montenegro have submitted an indictment proposal for Terraform Labs co-founder Do Kwon, according to a report by Bloomberg Law, citing reports by Montenegrin newspaper Vijesti.
Kwon, along with Terraform Labs Chief Financial Officer Han Chang-joon, was arrested and charged with forgery in Montenegro last month. That arrest was followed by request for extradition, though for now it is unclear to which country he is to be extradited. He faces criminal charges in both his native South Korea and the U.S.
Kwon had been on the run since last summer's collapse of the Terra ecosystem, which sent shockwaves through the cryptocurrency markets.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.