Do Kwon, the Terraform Labs co-founder who was on the run from law enforcement agencies till last month, has reportedly been indicted in Montenegro for forging his travel documents. The indictment comes more than three weeks after Kwon was arrested in Podgorica airport while attempting to flee the country.
According to a report by South Korea’s Block Media, local prosecutors in the State of Podgorica have issued indictments to Do Kwon and Han Chang-jun, the former Chief Financial Officer of Terraform Labs. As per the documents submitted in the Montenegrin Basic Court, the prosecutor’s Office of the State of Podgorica intends to prosecute the Terraform Labs co-founder and his associate for making and using a false passport and other identification documents.
The court filing further revealed that prosecutors were seeking an extension on the detention of Kwon and his associate. The decision on the extension is expected before April 23, which is when the initial 30-day detention of the Terraform Labs executives will end. If convicted, the duo may get a prison sentence of up to five years. Meanwhile, South Korean authorities have attempted to arrest Shin Hyun-Seong aka Daniel Shin, another co-founder of Terraform Labs. However, Seoul Southern District Court has refused to issue an arrest warrant.
Do Kwon was arrested on March 23 at Podgorica airport after he attempted to board a private plane to Dubai using a fake Costa Rican passport. His arrest put an end to the months-long manhunt that involved several law enforcement agencies, including Interpol. The United States and South Korea have sought Kwon’s extradition
to prosecute him for his role in the collapse of Terra last year. However, Montenegro’s Justice Minister has clarified that Do Kwon will have to face prosecution in Montenegro before he can be extradited.