Key Takeaways

  • Do Kwon is going through new costs in the US and Montenegro.
  • U.S. prosecutors are charging him with eight counts of fraud, whereas Montenegrin police are charging him with doc forgery.
  • Kwon was arrested yesterday in Montenegro, at Podgorica airport.

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Do Kwon is being accused by U.S. prosecutors of committing commodities fraud, securities fraud, wire fraud, and fascinating in market manipulation.

Eight Counts of Fraud

Do Kwon’s authorized troubles maintain worsening.

Yesterday the US Division of Justice filed a complaint in opposition to Terra frontman Do Kwon, charging him with eight completely different counts of fraud: conspiracy to defraud, two counts of commodities fraud, two counts of securities fraud, two counts of wire fraud, and fascinating in market manipulation. The DOJ is in search of Kwon’s extradition to the U.S., based on CoinDesk.

Kwon was apprehended yesterday in Montenegro, at Podgorica airport. Native media reported that the Terraform Labs CEO was trying to board a flight to Dubai by utilizing a faux Costa Rican passport. He was additionally carrying South Korean and Belgian journey paperwork.

Kwon’s arrest was made public by Montenegrin Minister of Inner Affairs Filip Adžić, who introduced on Twitter that Montenegrin police had detained “an individual suspected of being one of the vital wished fugitives, South Korean citizen Do Kwon.” South Korean authorities later confirmed Kwon’s identification by way of photographic information and fingerprint info.

Along with the brand new costs dropped at him by U.S. prosecutors, Kwon can also be going through prison costs in Montenegro for doc forgery. He is because of seem immediately at Podgorica’s Increased Courtroom for an extradition request listening to. It’s unclear whether or not Kwon might be extradited to South Korea or the US; nevertheless, his arrest was initially carried out on a South Korean warrant.

Previous to his seize, Kwon had repeatedly stated that he was “not on the run”, regardless of Interpol issuing a purple discover for him in September—successfully making him a wished man in 195 completely different nations. 

Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and several other different crypto property.

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