{"id":20071,"date":"2023-04-21T10:46:04","date_gmt":"2023-04-21T10:46:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/terraform-labs-co-founder-do-kwon-charged-by-montenegro-prosecutors-regulation-bitcoin-news\/"},"modified":"2023-04-21T10:46:04","modified_gmt":"2023-04-21T10:46:04","slug":"terraform-labs-co-founder-do-kwon-charged-by-montenegro-prosecutors-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/terraform-labs-co-founder-do-kwon-charged-by-montenegro-prosecutors-regulation-bitcoin-news\/","title":{"rendered":"Terraform Labs Co-Founder Do Kwon Charged by Montenegro Prosecutors \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Nearly a month after Do Kwon\u2019s arrest by Montenegro law enforcement, local prosecutors have now indicted the co-founder and CEO of Terraform Labs. The decision to indict Kwon is likely to delay attempts to extradite him to South Korea and the United States where he faces several charges. Local prosecutors have reportedly asked a court to extend Kwon and his associate\u2019s detention.<\/strong><\/p>\n

Kwon\u2019s Hideout Seized by Local Law Enforcement<\/h2>\n

Prosecutors in Montenegro have reportedly<\/a> hit Terraform Labs co-founder and CEO Do Kwon with charges of using a fake passport and other identification documents when he attempted to flee the Balkan state on March 23, 2023. According to a DL News report, Kwon\u2019s indictment is likely to complicate efforts to extradite him to the U.S. and South Korea where he faces multiple charges.<\/p>\n

As previously reported<\/a> by Bitcoin.com News, Kwon and his associate Han Chang-Joon were arrested while attempting to leave for Dubai via a private jet. At the time of his arrest, Kwon was reportedly found in possession of a fake Costa Rican passport.<\/p>\n

Before attempting to leave Montenegro, Kwon and Han lived in a Belgrade apartment that was acquired for about $2.2 million by the latter in Sept. 2022. According to local media reports, the apartment where Kwon is thought to have been holed up for six months was recently seized<\/a> by local law enforcement.<\/p>\n

Prosecutors Seek Extension of Kwon\u2019s Detention<\/h2>\n

Following the two men\u2019s capture by local law enforcement, a Montenegro court initially ruled that the duo should remain behind bars for 30 days. However, as noted in the DL News report, more days are likely to be added if the court gives in to the prosecutors\u2019 demand for an extension.<\/p>\n

\u201cAfter the decision on the extension of detention by the court, the public will be informed about all available information regarding this case,\u201d Maja Kosovic, a spokesperson of the court reportedly said.<\/p>\n

According to the report, if Kwon and Han are convicted, they are likely to be handed prison terms that range between three months and five years.<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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