Terraform Labs
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Montenegro Sentences Crypto Fugitive to Four Months in Jail
Police officers escort South Korean crypto mogul Do Kwon (C) in Podgorica, Montenegro. Photo: EPA-EFE/BORIS PEJOVIC
On March 23, Do Kwon and Han Chang-Joon, a senior executive at Chai, a mobile payment provider, were arrested at Podgorica airport trying to board a private flight to Dubai in the United Arab Emirates with falsified travel documents from Costa Rica.
Montenegro Arrests Fugitive Crypto Fraudster Do Kwon at Airport
Montenegrin police officers in the capital Podgorica. Photo: BIRN/Samir Kajosevic
"The Montenegrin police has apprehended an individual believed to be one of the most-wanted fugitives, the South Korean national Do Kwon, the co-founder and CEO of Terraform Labs based in Singapore," Adzic said on Twitter. "We are awaiting official confirmation of his identity," he added.
South Korea hits dozens with travel bans amid crypto probe
South Korean prosecutors have barred dozens of people connected to Terraform Labs from leaving the country as they expand an investigation into a $40 billion collapse of the company's cryptocurrency that devastated traders around the world.