• Do Kwon, founder of Terra (LUNA), was sentenced to four months in prison by a Montenegro court for attempting to travel with a forged passport.
• Kwon had attempted to argue he had acquired the Costa Rican passport through a legitimate agency and traveled all over the world with it.
• He is facing multiple charges arising from the $40 billion crash of the Terra ecosystem and its stablecoin, TerraUSD (UST).
Disgraced Terra (LUNA) Founder Sentenced to Prison
On Monday, a Montenegro court sentenced the disgraced Terra (LUNA) founder Do Kwon to four months in prison for attempting to travel with a forged passport. Kwon had been arrested in late March after trying to board a flight to the United Arab Emirates (UAE). The time that he has already spent behind bars will count towards his sentence.
Kwon’s Attempted Defense
Kwon attempted to argue in court that he had acquired the Costa Rican passport through a legitimate agency and traveled all over the world with it according to Korean news outlet Segye Ilbo. He said that he “filled out all the documents and received a Costa Rican passport through an agency in Singapore recommended by a friend.” The judge quizzed Kwon about the name of this agency but Kwon reportedly replied that he couldn’t recall it.
The relatively short prison sentence in Montenegro isn’t likely to be the end of Kwon’s legal concerns as authorities in both South Korea and America want him extradited on multiple charges related to his involvement with $40 billion crash of Terra’s ecosystem and its stablecoin, UST. On Twitter, Kwon claimed “he had stolen no money and never had ‘secret cashouts.’” However, there is yet no proof that any real action has been taken on this statement.
Dan Sunghan, director of financial crime investigation bureau at Seoul Southern District Prosecution Service tells Bloomberg that if extradited back home, Kown could face more than four decades behind bars.
The judicial process for Do Kwan appears far from being done as extradition requests are still pending from two countries. He may have escaped jail time in Montenegro but could potentially face decades if convicted back home on his alleged crimes concerning UST’s collapse