Terraform Labs Founder Found Guilty of False Passport Use, Sentenced to Prison

Cointelegraph reports that Terraform Labs founder Do Kwon and former chief financial officer Han Chong-joon have been involved in a legal case in Montenegro, where they have been found guilty of using false passports. The Montenegro Basic Court has sentenced both individuals to four months in prison, taking into account the time they have already spent in detention.

The charges against Kwon and Han relate to their attempt to leave the country using fake Costa Rican passports. Kwon argued in court that he was unaware of the passport’s forged nature and instead shifted the blame onto a Chinese-named agency.

According to a report from South Korean news outlet Segye Ilbo on June 17, Kwon claimed that he obtained his alleged counterfeit passports and travel documents, including the Costa Rican passport, through third-party agencies. He asserted that he had been using his Costa Rican passport for several years and had no reason to doubt its authenticity.

Furthermore, Kwon denied not only the forgery of his travel documentation but also the allegations of making financial donations to Milojko Spajić, Montenegro’s former finance minister and current leader of the Europe Now party.

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