Terra co-founder Do Kwon reportedly indicted for document forgery

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Prosecutors in Montenegro have reportedly issued an indictment against Terra co-founder Do Kwon after arresting executives in late March.

The Podgorica Prosecutor’s Office has charged Kwon, the former co-founder and former CEO of Terraform Labs, with falsifying legal documents, South Korean industry-focused news agency Block Media reported. report April 20th.

The indictment comes weeks after Kwon was arrested for trying to board a private flight from Montenegro’s capital Podgorica airport to Dubai on March 23. He specifically flew abroad using fake documents. .

Han Chang-jun, Terraform’s former chief financial officer, faces similar charges to Kwon, the report notes. Han was arrested along with Kwon in Podgorica in March.

After the indictment was issued, the Montenegrin prosecutor reportedly requested an extension of the detention period of the two former Terraform executives.

Han and Kwon are indicted in Montenegro, but another Terraform co-founder, Shin Hyunseung, also known as Daniel Shin, is walking free in South Korea. Local authorities attempted to arrest the cadres, but the Seoul Southern District Court denied the request. He said very few.

Related: Mr. Do Kwon converts illicit funds from LUNA to Bitcoin: Korean prosecutor

The news comes as more global prosecutors reach a major milestone in proceedings involving some crypto executives. On Thursday, Turkish police finally detained Faruk Fatih Ozer, the founder and former CEO of Thodex, who fled Turkey after stealing his $2 billion from an exchange in 2021.

On April 20, Cointelegraph also confirmed that Tornado Cash developer Alexei Pertsev, who was arrested by Dutch authorities in August 2022, will be released from prison.