Do Kwon, the founder of Terra, was apprehended on March 23, 2023, in Montenegro as he was preparing to board a private jet bound for Dubai at Podgorica Airport. A video capturing Kwon being escorted out of the Montenegrin court in handcuffs gained significant attention online.
In recent updates, the Montenegro court has granted Do Kwon’s release on bail, approving his request for bail amounting to 400,000 euros ($428,000). Since his arrest, regulators from both South Korea and the United States have been seeking Kwon’s extradition, which is related to the collapse of his multi-billion-dollar cryptocurrency enterprise in May of the previous year.
The latest reports indicate that Do Kwon has now been sentenced to four months in jail in the Montenegro document forgery case.
Montenegrin Court Sentences Do Kwon to Four Months in Jail
Terra’s CEO has been handed a four-month jail sentence by a Montenegrin court after being found guilty of document forgery. The court in the capital city of Podgorica made the ruling and also ordered the seizure of two Costa Rican passports, two Belgian passports, and two identity cards associated with Kwon and Han.
Senior prosecutor Dan Sunghan had previously indicated that Kwon could face a significant prison term, potentially spanning a substantial portion of his life. The prosecutor clarified that it is legally permissible for an individual to be tried and sentenced in multiple jurisdictions for separate charges.