Do Kwon, the former CEO and founder of Terraform Labs, sought to have a passport fraud conviction overturned by a Montenegro court, but his appeal was rejected, and the guilty verdict was upheld.
Montenegro Court Upholds Conviction
Do Kwon, the 31-year-old mastermind behind Terraform Labs, experienced a significant setback as the Higher Court of Podgorica in Montenegro turned down his appeal to reverse the guilty verdict issued earlier this year. This final court decision marks the conclusion of Kwon’s efforts to overturn his conviction for using a falsified passport.
In June, the Podgorica Basic Court found Kwon and his colleague, Han Chang-Joon, guilty of creating fake passport documents and sentenced them to a four-month prison term. These charges were upheld by the Higher Court of Podgorica and deemed to be in accordance with Montenegro’s criminal code.
Passport Fraud Conviction
Kwon and his associate attempted to leave Montenegro on a private jet using counterfeit Costa Rican passports in March. Despite Kwon’s claims that he was unaware of the falsification, the court insisted that the confiscation of their ID cards was necessary to prevent potential future criminal activities.
Additionally, serious allegations against Kwon connected to the depreciation of TerraUSD and Luna, which lost $40 billion in value last year, have made him a wanted individual by both South Korean and U.S. authorities. Kwon was on the run before his arrest, with Interpol issuing a red notice, and is currently detained in Montenegro, awaiting potential extradition proceedings to the U.S. or South Korea.
Hot Take: Continued Legal Battles
Do Kwon’s legal entanglements continue to escalate with the rejection of his passport fraud appeal, further complicating his already tumultuous situation.
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