Terraform Labs founder Do Kwon has been found guilty of using a false passport by a court in Montenegro and has been sentenced to four months in prison.
Do Kwon’s colleague and former Terraform Labs Chief Financial Officer Han Chong-joon, was charged alongside him and received the same sentence. The time both men spent in detention will be taken into account, the Montenegro Basic Court said in a statement on its website.
Do Kwon was charged with attempting to leave the country using a false Costa Rican passport. He reportedly told a Montenegro court that he wasn’t aware the passport he was traveling with was allegedly forged and instead pinned the blame on a Chinese-named agency.
According to a June 17 report from South Korean news outlet Segye Ilbo, Kwon told the Montenegrin Basic Court he received his allegedly forged passports and travel documentation, including a Costa Rican passport, through third-party “agencies.”
According to Kwon, because he’d been traveling with his Costa Rican passport “for years,” he had no reason to doubt its authenticity.
In addition to denying forgery of travel documentation, Kwon denied allegations he made any financial donations to Montenegro’s former finance minister Milojko Spajić, the now-leader of the Europe Now party.