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Terraform Labs co-founder Do Kwon is appealing a court decision to extend his detention for up to 30 days after he was arrested in Montenegro for attempting to fly using fake documents. It is reported.
Kwon’s legal representative has confirmed an appeal against a Montenegro court’s decision to detain the entrepreneur longer than usual. according to To local media Vijesti. The decision came after Kwon was found to have been using fake documents at Podgorica airport during his flight to Dubai.
Translated from Filip Adzic, Minister of the Interior of Montenegro – “One of the world’s most wanted fugitives has been arrested in Podgorica”
Montenegrin police have detained South Korean citizen Do Kwon, suspected of being one of the most wanted criminals…” https://t.co/sCJ0FFrlEk
— Simon Dixon (@SimonDixonTwitt) March 23, 2023
Montenegrin authorities normally allocate a maximum of 72 hours of detention, but a 30-day extension for Kwon was approved after prosecutors stressed that he was likely a fugitive. was determined to be a foreigner not specified in
Since the collapse of the Terra ecosystem, Kwon has been suspected by South Korean authorities of traveling between Singapore, Dubai and Serbia.
Related: South Korea Seizes $104 Million From Terra Co-Founder Who Suspected Unfair Profits
On March 23, hours after Kwon was arrested in Montenegro, US prosecutors in New York charged Kwon with fraud.
Just in: $ Luna It fell 8.2% to $1.31 after reports of the arrest of Dokwon in Montenegro.
: https://t.co/1bQ48EyLco pic.twitter.com/nXSGI2WSNw
— CoinGecko (@coingecko) March 23, 2023
As reported by Cointelegraph, the 31-year-old man was charged with eight separate counts, including merchandise fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation.
Magazine: SEC Targets Coinbase, Do Kwon Arrested, FTX Sells $95 Million on Mysten Labs: Hodler’s Digest, March 19-25