Do Kwon Sentenced to 4 Months Jail in Montenegro Document Forgery Case

The court has also ordered the confiscation of two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and Terra executive Han Chang-Joon.

AccessTimeIconJun 19, 2023 at 1:11 p.m. UTC
Updated Jun 20, 2023 at 6:24 p.m. UTC

Terraform Labs founder Do Kwon has been sentenced to four months in jail by a Montenegro court after being found guilty of document forgery.

A Basic Court in the country's capital Podgorica shared the verdict on Monday, adding that the time spent in detention will be included in the sentence.

The South Korean national was arrested in the Balkan nation back in March for the alleged possession of falsified documents, along with another Terra executive Han Chang-Joon. The two have remained in custody since their arrest despite local courts approving bail last week on the second try.

By the same verdict, two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and Han were also confiscated, the court said.

Leading up to Kwon's arrest in Montenegro, the former executive maintained he was "not on the run," even as authorities in South Korea started an international search for him, including requesting a red notice from Interpol. Both South Korean and U.S. authorities have requested his extradition to face criminal charges related to the collapse of the multi-billion dollar crypto enterprise Terra in May 2022.

A High Court in Podgorica earlier confirmed to CoinDesk that Kwon will remain in "extradition custody" for six months while South Korea's request is under consideration.

UPDATE (June 19, 13:34 UTC): Adds more detail throughout.

Edited by Parikshit Mishra.


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Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.