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{"id":35813,"date":"2023-06-23T21:46:55","date_gmt":"2023-06-23T21:46:55","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/23\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro\/"},"modified":"2023-06-23T21:46:56","modified_gmt":"2023-06-23T21:46:56","slug":"terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/23\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro\/","title":{"rendered":"Terraform Labs founder Do Kwon jailed four months in Montenegro\u00a0"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/23\/terraform-labs-founder-do-kown-jailed-to-four-months-in-montenegro\/<\/a><\/br>
\nTerraform Labs founder Do Kwon jailed four months in Montenegro\u00a0<\/br>
\n2023-06-23 21:46:55<\/br><\/p>\n

\n
\n\t\t\t\n\t\t<\/div>\n<\/p><\/div>\n
\n

Another chapter was published this week in the long and bizarre saga of Terraform Labs\u2019 Do Kwon. The disgraced crypto founder will spend four months in a jail in Montenegro for falsifying official documents.\u00a0<\/span><\/p>\n

A Basic Court in Podgorica, the capital of Montenegro,<\/span> this week<\/span><\/a>\u00a0sentenced Kwon and the former chief executive officer of Terraform Labs, Chang-joon Han, to four months in prison for forging travel documents.<\/span><\/p>\n

The sentences include the time the two men have already spent in detention, 85 days, after being arrested at Podgorica Airport in March while trying to fly to Dubai, according to the court statement. The two men will be able to appeal the verdict within eight days of receiving the court\u2019s written copy of the ruling.\u00a0<\/span><\/p>\n

Kwon and Han pleaded not guilty<\/a> at their first court hearing in May to charges of passport and travel document forgery. At the time, authorities confiscated falsified documents that included two Costa Rican passports, two Belgian passports and two identity cards.\u00a0<\/span><\/p>\n

A high court in Montenegro\u00a0<\/span>overrode a lower court\u2019s previous decision<\/span><\/a>\u00a0that would have released Kwon and Han on bail. But, a week later, <\/span>the Montenegrin upper court again agreed to grant bail <\/span><\/a>at \u20ac400,000 ($437,000) for each and proposed house arrest under police supervision.\u00a0<\/span><\/p>\n

The next step for Kwon is still unclear since both the U.S. and South Korea have been seeking to extradite him over charges in both countries relating to the collapse of Terraform Labs. <\/span><\/p>\n

In February<\/span><\/a>, the U.S. Securities and Exchange Commission (SEC) charged Kwon and Terraform with defrauding U.S. investors who purchased Terra USD and Luna tokens.<\/span><\/p>\n

\u201cWe allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities, most notably for LUNA and Terra USD,\u201d said SEC Chair Gary Gensler. \u201cWe also allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors.\u201d<\/span><\/p>\n

\u201cInvestigating the case in South Korea would be the most efficient way of bringing justice,\u201d as most key accomplices and evidence linked to the Terraform incidents are based in South Korea, Dan Sunghan, Korean prosecutor, told WSJ last month.<\/p>\n

The U.S. and South Korea do not have extradition treaties with Montenegro.\u00a0<\/span><\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/06\/23\/terraform-labs-founder-do-kown-jailed-to-four-months-in-montenegro\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/23\/terraform-labs-founder-do-kown-jailed-to-four-months-in-montenegro\/ Terraform Labs founder Do Kwon jailed four months in Montenegro\u00a0 2023-06-23 21:46:55 Another chapter was published this week in the long and bizarre saga of Terraform Labs\u2019 Do Kwon. The disgraced crypto founder will spend four months in a jail in Montenegro for falsifying official documents.\u00a0 A Basic Court in Podgorica, the capital of […]<\/p>\n","protected":false},"author":1,"featured_media":35814,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-35813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\nTerraform Labs founder Do Kwon jailed four months in Montenegro\u00a0 - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/23\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terraform Labs founder Do Kwon jailed four months in Montenegro\u00a0 - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/06\/23\/terraform-labs-founder-do-kown-jailed-to-four-months-in-montenegro\/ Terraform Labs founder Do Kwon jailed four months in Montenegro\u00a0 2023-06-23 21:46:55 Another chapter was published this week in the long and bizarre saga of Terraform Labs\u2019 Do Kwon. The disgraced crypto founder will spend four months in a jail in Montenegro for falsifying official documents.\u00a0 A Basic Court in Podgorica, the capital of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scienceandnerds.com\/2023\/06\/23\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro\/\" \/>\n<meta property=\"og:site_name\" content=\"Science and Nerds\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-23T21:46:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-23T21:46:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2023\/06\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro_649612cf943b9.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scienceandnerds.com\/2023\/06\/23\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro\/\",\"url\":\"https:\/\/scienceandnerds.com\/2023\/06\/23\/terraform-labs-founder-do-kwon-jailed-four-months-in-montenegro\/\",\"name\":\"Terraform Labs founder Do Kwon jailed four months in Montenegro\u00a0 - 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