Three months after his arrest, Do Kwon finally heard the court's verdict.
Do Kwon, the founder of Terraform Labs, has received a four-month jail sentence from a Montenegro court for using a counterfeit passport.
The saga began when Kwon was caught attempting to exit Montenegro with a fake Costa Rican passport in March. In a recent hearing, the man defended himself in the Montenegro Basic Court, claiming ignorance of the passport's alleged illegitimacy.
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Do Kwon claimed that he received a fake passport through a third-party agency. However, the man behind Terraform Labs claimed that he didn't remember the company's name but suggested a Chinese-named agency was to blame for providing the passport.
Terraform Labs Kwon further justified his lack of suspicion regarding the passport's authenticity, stating he had been traveling with it for "years." Thus, he had no reason to question its legitimacy.
Do Kwon also refuted claims that he made financial contributions to Milojko Spajić, the former finance minister of Montenegro, who is currently leading the Europe Now party.
The Montenegro Basic Court also handed the same sentence to Han Chong-joon, Kwon's colleague and former CFO of Terraform Labs. The court's statement confirmed that the time both men have already spent in custody will be considered in their sentences.
The hunt for Terraforms Labs' Do Kwon started ten months ago, in September 2022, when South Korean authorities issued an arrest warrant to the man. However, it took global officials over six months to eventually catch the man behind Terra (LUNA).
The conviction of Do Kwon serves as a potent reminder that even figures from the tech industry can be held legally accountable when they fail to adhere to the law.
