- Do Kwon has been charged with using a false passport by Montenegran prosecutors
- The Terraform Labs CEO was arrested trying to leave the country on a private jet last month
- Kwon could spend up to five years in prison if found guilty
Terraform Labs CEO Do Kwon has been charged with using a false passport after being arrested in Montenegro last month. Kwon was caught trying to leave the country for Dubai using a Costa Rican passport and allegedly had a fake Belgian passport in his luggage, having spent months in Montenegro’s neighbouring country of Serbia. Local news outlet DL News reported the news yesterday, with his subsequent trial and potential jail time delaying any possible extradition.
Kwon Arrested Trying to Leave Montenegro
Kwon is believed to have fled Singapore for Serbia via Dubai last year following the collapse of the Terra ecosystem and a South Korean arrest warrant, and many were surprised that he could have done, given that his South Korean passport had been revoked by that point.
Last month, Kwon was detained by police at Podgorica Airport in the south of the country trying to board a plane back to Dubai using a false Costa Rican passport and arrested, with reports also claiming that he had a similarly fake Belgian passport in his possession.
Jail Awaits if Convicted
DL News fleshed out some of the missing points of the story, most notably that Kwon was trying to leave on a leased private jet and that Han Chang-Joon, Kwon’s associate and travelling companion, had purchased a $2.2 million apartment in Serbia’s capital of Belgrade back in September, showing that the pair had planned their move months in advance. The pair had lived there while they planned their next move, and even formed a new company in Serbia under Kwon’s real name.
Prosecutors have asked for a time extension to question Kwon and Chang-Joon, with court spokesperson Maja Kosovic saying that “the public will be informed about all available information regarding this case” once the extension is ruled on. If convicted of the charges against them, the pair face prison sentences of three months to five years.