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Cryptocurrencies

Cryptocurrencies

Montenegro police accuse crypto creator Do Kwon of fabricating paperwork.

Do Kwon Photo Credit: Alamy Do Kwon Photo Credit: Alamy
Do Kwon Photo Credit: Alamy Do Kwon Photo Credit: Alamy

After capturing Do Kwon at Podgorica airport, Montenegro police accused him of fabricating official papers on Friday.

Do Kwon, a South Korean, and a second suspect were arrested Thursday at Podgorica airport while trying to fly to Dubai?

During the meeting, police uncovered counterfeit Costa Rican and Belgian passports in their bags.

It started a Podgorica court that accused the two of falsifying official papers.

“Pending conclusion of the (court) procedures they will be transported to an investigative judge…for subsequent steps according to an international (arrest) warrant,” it added.

The two were also given an international warrant “to assure their attendance… before the Southern District Court in Seoul on suspicion of committing various criminal offenses in the realm of economy.”

The Manhattan U.S. District Court issued an eight-count indictment against Kwon just hours after his detention in Podgorica.

After business hours, Kwon’s U.S. lawyers did not react.

Kwon, who co-founded Terraform Labs and created the TerraUSD and Luna currencies, was indicted Thursday on securities fraud, wire fraud, commodities fraud, and conspiracy counts.

TerraUSD fell to less than a cent in May.

The criminal case follows last month’s SEC civil charges against Kwon and Terraform.

Kwon fled for months. Last September, South Korea issued an arrest order for him.

As his fingerprints matched the National Police Agency’s database, South Korean authorities identified the Montenegrin suspect as Kwon on Friday (KNPA).


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