Terra Founder Do Kwon and Former CFO Han Chang-joon Sentenced to Four Months in Prison Despite Pleading Not Guilty
Terra co-founder Do Kwon and former CFO Han Chang-joon have been found guilty of passport forgery by the Montenegro Basic Court. They have been sentenced to four months in jail.
Montenegro authorities accelerate investigations and legal proceedings as Terra co-founder Do Kwon faces extradition to South Korea within six months.
Also Read: Terraform Labs Founder Kwon Denies Forgery and Financial Links in Montenegro Court Battle
Do Kwon Found Guilty By Montenegro Court
Montenegro Court Judge Ivana Becic, in a hearing on June 19, found defendants Do Kwon and Han Chang-joon guilty of using counterfeit Costa Rican passports while attempting to fly to Dubai in March. They have been sentenced to four months in jail, accounting for the period from March 23 to June 15 already served in custody.
The judge provided a brief explanation for the reduced sentence and stated that the dissatisfied party has eight days to appeal upon receiving the written verdict.
On June 15, the Montenegro High Court granted bail to Do Kwon and Han Chang-joon. However, due to South Korea’s extradition request, the Montenegro High Court ordered their custody for a maximum of six months. Consequently, both individuals will remain in custody.
Do Kwon and Han Chang-joon, on June 16, expressed their lack of awareness regarding the falsity of the passports obtained through the economic citizenship program, as they had been using these Costa Rican and Belgian passports for their global travels. Additionally, Terra founder Do Kwon disclosed the method by which he acquired passports in Singapore.
During his testimony before the Special State Prosecutor’s Office (SDT) and defense attorneys, Do Kwon asserted that he had no financial transactions or meetings with former finance minister Milojko Spajic.
Extradition to South Korea
Goran Rodić, the lawyer representing Do Kwon and Han Chang-joon, stated that it is premature to discuss the possibility of their extradition. After receiving the written verdict, they intend to file a complaint against the detention within 30 days.
As the Montenegro High Court aims to expedite the extradition process, they are seeking to extradite both South Korean citizens back to their country.
Also Read: U.S. Court to Decide Terraform Labs’ Motion to Dismiss SEC Lawsuit in One Month
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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