Do Kwon Denies Forging Travel Documents And Other Allegations, Report

A recent update on the Terraform founder’s case in Montenegro revealed that Do Kwon denied two allegations against him. 

During his arrest in March, the authorities announced he used forged documents to travel. But he has denied it, stating he didn’t know they were forged as he used third-party agencies to get them. 

Regarding the accusations of sending funds to former Montenegro’s finance minister, Do Kwon lawyers denied the allegation saying such a thing never happened. A South Korean news outlet Segye recently reported the Montenegrin Basic Court hearing on the Terraform founder’s case.  

TerraForm Founder said he didn’t know the documents were forged

Based on the arrest announcement made by a Twitter account under Montenegro’s interior Minister Filip Adzic, Do Kwon traveled with fake documents. 

The Twitter post read: “The person is suspected of being one of the most wanted fugitives, South Korean national Do Kwon, a co-founder, and CEO of the Singapore-based Terraform Labs.”

“The former cryptocurrency king who is behind losses of over $40 billion, has been apprehended at the Podgorica airport with forged documents.”

But during the court hearing, Do Kwon denied the accusation. According to his statement, he had received the documents, including a Costa Rican passport, through a Singaporean agency. 

He also told the court that his friend had recommended the agency but mentioned that another agency had prepared his Belgian passport. 

But when the court asked for more details, the crypto kingpin stated he couldn’t remember the exact name of the agency since it was in Chinese. 

Do Kwon Also Denied Bribing Montenegro’s Finance Minister

Before now, Do Kwon had been accused of sending money to Montenegro’s former finance minister Milojko Spajic. 

Many media outlets carried the news, even on Twitter. On June 6, a local news media in Montenegro Balkinsight reported that the outgoing Prime Minister Dritan Abazovic had spoken about the accusations. Abazovic urged the prosecutors to investigate the claims that Do Kwon’s sent financial aid to the finance minister. 

Then on June 9, an account from Terra’s research forum revealed that Kwon had been sponsoring a politician in Montenegro with illegal funds. 

Also, a Radio Free Europe regional arm shared the information on June 17. The site reported that Kwon contacted the former minister Spajic through a letter he shared with many officials in the country before the last elections. 

However, the former finance minister, now the current Europe Now party leader, denied the accusations. Also, during the hearing, Do Kwon’s lawyers stated: “This is categorically denied, and it is not true.”

After listening to both sides, Judge Ivana Becie mentioned that a verdict on the forgery charges would be read on June 19. At the time of writing, the judge has slammed the Terraform CEO Do Kwon with 4 months imprisonment for document forgery. Also Do Kwon is awaiting if the South Korean request to extradite him will be granted or rejected. 

Meanwhile, at the time of writing, Terra Classic LUNC shows positive price moves gaining 1.47% in 24 hours, even amid the regulatory scuffles around the entire crypto market. The market cap has also gained 1.37%, while the trading volume shows a gain of 13.59% in the same period.