Following his arrest in Montenegro while attempting to fly using false documents, Terraform Labs co-founder Do Kwon will appeal the court’s decision to extend his detention time by up to 30 days.
A legal representative for Kwon upheld the appeal against the Montenegrin court’s decision to detain the businessman longer than usual, according to local media Vijesti. The decision was made after Kwon was caught using false documents at the Podgorica airport while trying to fly to Dubai.
Translation from Montenegro Minister of Interior Filip Adzic – “ONE OF THE WORLD’S MOST WANTED FUGITIVES WAS ARRESTED IN PODGORICA
Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon…” https://t.co/sCJ0FFrlEk
—Simon Dixon (@SimonDixonTwitt) March 23, 2023
Translation of the Minister of the Interior of Montenegro, Filip Adzic: “ONE OF THE MOST WANTED FUGITIVES IN THE WORLD WAS ARRESTED IN PODGORICA
The Montenegrin police have arrested a person suspected of being one of the most wanted fugitives, the South Korean citizen Do Kwon…”
Although the Montenegrin authorities usually authorize detentions of up to 72 hours, the 30-day extension for Kwon was approved after prosecutors stressed the high possibility of absconding. The court considered that Kwon was a foreign national whose identity was not clearly identified.
Since the collapse of the Terra ecosystem, South Korean authorities have suspected Kwon of moving between Singapore, Dubai and Serbia.
On March 23, A few hours after Kwon’s arrest in Montenegro, the US Attorney’s office in New York charged the businessman with fraud.
JUST IN: $MOON falls 8.2% to $1.31 following reports of Do Kwon’s alleged arrest in Montenegro.
: https://t.co/1bQ48EyLco pic.twitter.com/nXSGI2WSNw
— CoinGecko (@coingecko) March 23, 2023
As Cointelegraph reported, the 31-year-old was charged with eight separate counts, including commodity fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation.
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