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Terraform Labs Founder Do Kwon Found Guilty of Document Forgery and Sentenced to 4 Months in Jail
CEO and co-founder of Terraform Labs Do Kwon has been found guilty of document forgery and sentenced to a four-month jail term. Kwon was convicted and sentenced by a Basic Court in Podgorica, the capital of Montenegro.
Authorities in Montenegro arrested Do Kwon back in March for carrying fake documents. Law enforcement arrested Kwon and Han Chang-Joon, another executive at Terraform Labs. They have both been in custody since their arrest.
Although the Podgorica High Court had approved bail for the executives, a local news outlet RFE reported that Kwon would remain in custody for six months. The period will see local courts deliberate on whether or not to allow an extradition request from South Korea to take effect. The Podgorica High Court confirmed the news report to CoinDesk.
Like South Korea, the US has also requested an extradition. Both countries want Kwon to answer fo
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