Blockchain News

Terra’s Do Kwon Blames ‘Chinese-named Agency’ for ‘Fake Passports’

Do Kwon, the founder, and CEO of Terraform Labs, recently appeared in a Montenegro court, denying any knowledge of the allegedly forged travel documents he was carrying. Kwon attributed the documents’ origin to a “Chinese-named agency” and stated that he had trusted it based on a recommendation from a trustworthy friend. The CEO’s court appearance sheds light on the ongoing legal proceedings and the charges he and former Terraform CFO Han Chong-Joon face.

Terraform Labs CEO Denies Knowledge of Forged Travel Documents:

In a Montenegro court, Do Kwon, the founder and CEO of Terraform Labs, asserted that he was unaware of the fake travel documents he allegedly tried to leave the country with. Kwon claimed he had obtained the reportedly forged Costa Rica and Belgian passports through agencies. He admitted to filling out the necessary paperwork for the documents through a Singapore agency recommended by a trusted friend. However, when questioned by the prosecution, Kwon did not disclose the agency’s name, mentioning only that it had a “Chinese name.”

Legal Proceedings and Charges:

Kwon’s court appearance follows his arrest in May, along with former Terraform CFO Han Chong-Joon, as they were reportedly attempting to board a plane bound for the UAE. Kwon and Han have been charged with traveling on forged documents, which they vehemently deny. It is worth noting that both individuals are also wanted in South Korea on fraud charges. Kwon shut down his South Korean businesses and left the country just before the collapse of Terra ecosystem coins over a year ago.

Maintaining Innocence and Extradition Challenges:

During his recent court appearance, Kwon insisted on Han’s innocence, requesting that any punishment related to the use of fake passports be directed solely at him. Kwon has applied for bail twice, while authorities in South Korea, the United States, and Singapore have sought his extradition to face charges. However, the absence of an extradition treaty between Montenegro and South Korea may complicate Kwon’s deportation.

The Way Forward:

As the legal proceedings unfold, Kwon’s court appearance sheds light on his defense and the allegations surrounding the forged travel documents. The CEO’s claim of relying on a “Chinese-named agency” further complicates the case. The outcome of the ongoing proceedings will determine the future course of action for Kwon and Han and their potential extradition. As the situation evolves, stakeholders closely monitor the developments surrounding Terraform Labs and its founders.

Do Kwon’s appearance in a Montenegro court reveal his denial of any knowledge regarding the allegedly forged travel documents? Blaming a “Chinese-named agency” and trusting it based on a recommendation from a trustworthy friend, Kwon attempted to distance himself from any involvement in the forgery. The ongoing legal proceedings and the extradition challenges add further complexity to the situation. As the case unfolds, the fate of Kwon and Han hangs in the balance, with implications for the future of Terraform Labs and the broader blockchain community.

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