Do Kwon, the founder of Terraform Labs, was found guilty of forging documents and was given a four-month prison sentence by a court in Montenegro.On Monday, a Basic Court in the nation’s capital, Podgorica, announced the verdict and said that the imprisonment period would be factored into the sentence.The South Korean native and another Terra official, Han Chang-Joon, were both detained in the Balkan country back in March for allegedly possessing forged passports.Despite the fact that bail was granted last week after a second attempt by local courts, the two have remained in detention since their arrest.
The court also ordered the confiscation of Kwon and Han’s two passports from Costa Rica, two passports from Belgium, and two identity cards.Before being apprehended in Montenegro, Kwon insisted he was “not on the run,” despite the fact that South Korean officials had launched an international manhunt for him and had even asked Interpol for a red alert.Authorities in South Korea and the United States have asked for his extradition to face charges in connection with the demise of the multibillion-dollar cryptocurrency company Terra in May 2022.
Kwon would remain in “extradition custody” for six months while South Korea’s case is being considered, the High Court in Podgorica previously confirmed to CoinDesk.