Terraform Labs founder Do Kwon was found guilty by a court in Montenegro of using a fake passport and sentenced to four months in prison.
Kwon’s colleague and former Terraform Labs CFO Han Chong-joon was charged along with him and received the same sentence. The time the two men spent in custody will be taken into account, the Basic Court of Montenegro said declaration on their website.
Kwon was accused of trying to leave the country using a fake Costa Rican passport. He reportedly told a court in Montenegro that he was unaware that the passport he was traveling with was allegedly forged and instead blamed the Chinese agency.
According to a June 17 report by South Korean news outlet Segye Ilbo, Kwon told the Basic Court of Montenegro that he obtained his allegedly forged passports and travel documents, including a Costa Rican passport, through “third-party agencies.”
According to Kwon, because he had been traveling with his Costa Rican passport for “years,” he had no reason to doubt its authenticity.
In addition to denying falsifying travel documents, Kwon denied allegations that he made any financial donations to former Montenegrin finance minister Milojko Spajić, now leader of the Europe Now party.