Disgraced crypto entrepreneur Do Kwon is embroiled in new legal trouble as authorities in Montenegro formally charged him with a case of forgery.
According to a new report from Bloomberg, Montenegrin prosecutors filed an indictment for the Terraform Labs co-founder and his chief financial officer Han Chang-Joon for allegedly forging personal documents.
Kwon is currently detained in Montenegro after he was apprehended at the Podgorica Airport last month. He was caught using a forged Costa Rican passport while trying to board a flight to Dubai.
Following the arrest, authorities said that Kwon will be held in the southeastern European country for 30 days while awaiting the result of the investigation.
The report says that prosecutors now seek to extend the period of detention based on a statement from Dusko Milanovic, an official at the prosecutor’s office in Podgorica.
Kwon already faces multiple charges arising from the $40 billion crash of the Terra ecosystem stablecoin TerraUSD (UST) and the crypto asset Terra (LUNA).
In the US, federal prosecutors charged Kwon with eight counts, which include securities fraud, commodities fraud and conspiracy. He also faces similar charges in his native country South Korea.
Both the US and South Korea seek Kwon’s extradition from Montenegro.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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