Crypto Tycoon Do Kwon Sentenced to Prison in Montenegro for Passport Forgery

Former Terraform Labs CEO Do Kwon faces 4-month imprisonment for fake passport use amidst ongoing multi-million dollar fraud charges.

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A Montenegro court has sentenced South Korean cryptocurrency tycoon Do Kwon to 4 months in prison for using fake passports.

Do Kwon was charged in the US with a multi-million dollar fraud, as was a close ally, local newspaper Vijesti reported.

Do Kwon is the former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD, which crashed in May 2022, disrupting cryptocurrency markets.

He was arrested in March along with Han Chang-joon, , former chief financial officer of Terraform Labs, as they tried to board a flight to Dubai at the airport in Podgorica, the capital of Montenegro, and charged with forging official documents.

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