Montenegro’s court has determined that Do Kwon, the co-founder of Terraform Labs, is guilty of using a counterfeit Costa Rican passport. As a result, he has been sentenced to four months in jail for the offense.
Do Kwon Sentenced to 122 Days in Prison, Defendant Has 8 Days to Appeal
According to the Montenegrin court, Do Kwon, also known as Kwon Do-Hyung, has been convicted of possessing and attempting to use a counterfeit passport. The court’s announcement specifies that Kwon has been found guilty of the criminal offense of document forgery. Montenegrin law enforcement authorities will seize Kwon’s travel documents, which include a Costa Rican passport, a Belgian passport, and two other forms of identification.
The court has imposed a four-month jail sentence on Kwon, as stated in a translated court statement that mentions “all relevant circumstances were taken into consideration in determining the severity of the sentence.” Kwon has an eight-day window to lodge an appeal following the receipt of a written copy of the court’s judgment.
Kwon’s sentencing comes after the former executive of Terraform Labs was granted bail, with a set amount of $435,000. Nevertheless, the Montenegrin High Court unequivocally revoked the lower court’s bail ruling on May 24, 2023. Marija Rakovic, a court spokeswoman, directly relayed this official information to Bloomberg.
So far, Kwon has been incarcerated in Montenegro for a cumulative period of 88 days. Unless he files an appeal against the verdict, it is anticipated that he will serve an additional 122 days in jail. Reports indicate that Montenegro’s prisons are overcrowded and deemed distressing. Meanwhile, both South Korea and the United States are actively pursuing the establishment of an extradition treaty with Montenegro, aiming to bring Kwon to face charges in their respective countries.
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