Do Kwon Puts Blame On Chinese Agency For ‘’Fake Passport’’

The Terraform Labs founder and CEO, Do Kwon, recently appeared in a Montenegro court, refuting knowledge of the allegedly forged travel documents he possessed. Kwon has attributed the documents’ origin to a “Chinese-named agency” and further added that he had trusted it based on a recommendation from a trustworthy friend.

Do Kwon Refutes Knowledge Of Forged Documents

According to South Korean media outlets Segye IIbo and MBN, Terraform CEO asserted to the District Court in Podgorica, Montenegro, that he had received all of his reportedly forged travel documents, including a Costa Rica passport, through “agencies.”

Kwon noted:

I received my Costa Rica passport after filling in the documents required by a Singapore agency that was recommended to me by a friend. I received my Belgian passport through another agency.

However, when questioned by the prosecution, Kwon did not disclose the agency’s name, mentioning that it only had a “Chinese name.’’

The CEO’s arrest occurred in May when he and Terraform’s former CFO, Han Chong-joon, were apprehended while attempting to board a flight to the United Arab Emirates (UAE). Kwon and Han were charged with traveling on forged documents, which they vehemently deny.

It is worth mentioning that they(Do Kwon and Han) are wanted in their native South Korea for fraud-related allegations. Kwon shut down his South Korean businesses and left the country just before the collapse of Terra ecosystem coins over a year ago.

During his recent court appearance, Kwon insisted on Han’s innocence. He further requested that any punishment related to the use of fake passports be directed solely at him.

He said:

If somebody needs to be punished for using a ‘’fake passport,’’ let that be me alone

Kwon has applied for bail twice, while authorities in South Korea, the United States, and Singapore have sought his extradition to face charges. However, the absence of an extradition treaty between Montenegro and South Korea may complicate Kwon’s deportation.

On the other hand, the Higher Court told reporters earlier this month that:

The judge of the Higher Court has ordered that Kwon and Han be detained for six months following the opening of an extradition case at the request of South Korea.

What Is The Way Forward For Terraform Labs and its CEO?

As the legal proceedings unfold, Kwon’s court appearance sheds light on his defense and the allegations surrounding the forged travel documents. The CEO’s claim of relying on a “Chinese-named agency” further complicates the case.

The outcome of the ongoing proceedings will determine the future course of action for Kwon and Han, as well as their potential extradition. As the situation evolves, stakeholders closely monitor the developments surrounding Terraform Labs and its founders.

Blaming a “Chinese-named agency” and trusting it based on a recommendation from a trustworthy friend, signifies that Kwon attempts to distance himself from any involvement in the forgery. The ongoing legal proceedings and the extradition challenges adds further complexity to the situation.

The case underscores the complex nature of cross-border legal matters and the challenges authorities face in bringing individuals to justice across jurisdictions.

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