Market News- Do Kwon, founding father of Terraform Labs, continues to be billed using the indictment.
- Kwon and CFO Han Chang-Joon were arrested on forgery charges in Montenegro.
- Kwon faces criminal charges both in Columbia and also the US.
The Montenegro government bodies have billed Do Kwon, the founding father of Terraform Labs, with indictment after his recent arrest in Montenegro.
Recently, government bodies in Montenegro arrested Do Kwon and Han Chang-Joon, the main Financial Officer (CFO) of collapsed Terraform Labs, on charges of forgery. Following their arrest, a request extradition is made through the U.S. and Columbia. Even though it still remains unclear which country Kwon is going to be extradited to.
Particularly, Kwon faces criminal charges in the native Columbia and also the U . s . States. The problem remains ongoing, and additional updates might be forthcoming as developments arise.
Consequently, Kwon and Han Chang-Joon were arrested after finding that they are transporting forged documents meant for visit Dubai. Furthermore, reports indicate the two individuals have been in Montenegro unlawfully just before their arrest.
The government bodies in Kwon’s home country have billed him with having to pay an attorney 9 billion won ($seven million) prior to the collapse of TerraLuna this past year. Based on prosecutors, Kwon’s decision to pay for such a lot towards the law practice has been reported as evidence he understood the company involved to fail and it was get yourself ready for potential legalities.
Kwon is facing serious charges in the U . s . States and Columbia. In america, prosecutors have accused him of orchestrating a cryptocurrency fraud that lasted for a long time. Besides, it brought to losing a minimum of $40 billion in market price. Similarly, he faces similar charges in the native Columbia.
