Montenegrin police on Friday formally charged Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that misplaced an estimated $40 billion (practically Rs. 3,29,500 crore) or extra final 12 months, for forging official paperwork after arresting him on Podgorica airport.
Do Kwon, a South Korean nationwide, and a second suspect have been held on Thursday whereas making an attempt to board a flight to Dubai at Podgorica airport.
Police stated in an announcement that they had discovered solid Costa Rican passports and a separate set of Belgian passports of their baggage throughout the encounter.
The two suspects have additionally been charged earlier than a Podgorica court docket with forging of official paperwork, it stated.
“Pending completion of the (court) proceedings they will be taken to an investigative judge…for further actions according to an international (arrest) warrant,” it stated.
It additionally stated that a world warrant had been issued towards the 2 “to ensure their presence… before the Southern District Court in Seoul on suspicion of committing several criminal acts in the field of economy.”
Several hours after Kwon was detained in Podgorica, the US District Court in Manhattan made public an eight-count indictment towards him.
Lawyers for Kwon within the United States didn’t instantly reply to requests for remark after enterprise hours.
Thursday’s indictment prices Kwon, who co-founded Terraform Labs and developed the TerraUSD and Luna currencies, with two counts every of securities fraud, wire fraud, commodities fraud and conspiracy.
Both currencies crashed final May, with TerraUSD’s value sinking to lower than one penny.
The legal case follows associated US Securities and Exchange Commission civil prices towards Kwon and Terraform final month.
Kwon had been a fugitive for a number of months. South Korean authorities issued an arrest warrant for him final September.
South Korean police stated on Friday the id of the suspect arrested in Montenegro had been confirmed as Kwon after his fingerprints matched the data held by the nation’s National Police Agency (KNPA).
© Thomson Reuters 2023
