The founder of Terraform Labs pleaded not guilty to using fake passports from Belgium and Costa Rica at a trial in Montenegro.
Kwon hid from Interpol for several months before being arrested on March 23 at the airport in the Montenegrin capital. Law enforcement officials say the Korean businessman tried to travel in a rented private jet with a fake passport.
Then the prosecutor’s office of Montenegro accused Kwon and the former financial director of the company Han Chang Jun (Han Chang-Joon) of forging documents.
Lawyer Branko Andjelic offered to release both detainees on bail of 400,000 euros each. However, the prosecutor objected categorically, stating that both had money and were not interested in staying in Montenegro. Which means they can run away. The court agreed with the prosecutor.
Under Montenegrin law, the use of forged documents can result in up to five years in prison.
The US and South Korea are facing multiple fraud charges against Do Kwon for his alleged role in the collapse of Terra last spring.
Serbian police confiscated the apartment in Belgrade where Do Kwon hid for six months, until his arrest. In March, it became known that the businessman set up a company in Serbia for less than $1, weeks after Interpol put him on the international wanted list.
Source: Cryptocurrency
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