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Montenegro Court Jails ‘Cryptocurrency King’ Do Kwon for Four Months

Montenegro Court Jails ‘Cryptocurrency King’ Do Kwon for Four Months


SARAJEVO (Reuters) – A court in Montenegro has sentenced cryptocurrency entrepreneur Do Kwon, who is charged in the U.S. with a multibillion-dollar
fraud, and his ally to four months in prison for using forged passports, local newspaper Vijesti reported on Monday.

A South Korean national, Do Kwon is the former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD that collapsed in May 2022, roiling cryptocurrency markets.

He was detained in March along with Han Chang-joon, Terraform Labs’ former finance officer, as they tried to board a flight to Dubai at the airport of Podgorica, Montenegro’s capital, and charged with forging official documents.

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(Reporting by Daria Sito-Sucic; Editing by Gareth Jones)

Copyright 2023 Thomson Reuters.

Reuters

Published: 2023-06-19 14:22:17

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