Terraform Labs CEO Do Kwon Faces Extradition to South Korea

According to a report published by AFP, Do Kwon, CEO of Terraform Labs, has been charged with document forgery in Montenegro. Kwon was arrested at the Podgorica airport while traveling with fake documentation. South Korean prosecutors have said the Terra co-founder faces extradition to South Korea.

Terraform Labs co-founder and CEO Do Kwon, also known as Kwon Do-hyung, was arrested on Thursday in Montenegro, a mountainous country located in South Eastern Europe on the Balkan Peninsula. The news was first disclosed on March 23 by Montenegro’s interior minister Filip Adzic who explained Kwon was apprehended at the Podgorica airport bearing phony identification documents.

According to a report published by the AFP on Friday, Kwon is now being charged with forgery in Montenegro. Kwon was also traveling with an unknown companion who was also taken into custody. “A criminal complaint was filed against both persons for the criminal offense of document forgery,” Montenegro’s police detailed. In addition to forgery charges, prosecutors want to detain Kwon for 30 days as he ostensibly denied his identification documents were forged.

As the Minister of Interior @filip_adzic, announced earlier today, two citizens, Kwon Do Hyeong and Hon Chang Joon, were apprehended and brought to the Basic State Prosecutor's Office in Podgorica, on criminal charges for the criminal offense of document forgery under (1/3) pic.twitter.com/iS0rRs2Fwv

— mupCG (@MupCg) March 23, 2023

Further, Kim Hee-kyung, a spokeswoman for the Seoul Southern District Prosecutors’ Office told AFP that the government would like to see Kwon extradited back to South Korea. “South Korean prosecutors will take steps to repatriate Kwon Do-hyung. We are working on the process,” the spokeswoman explained. Kwon also faces a number of lawsuits in the United States including a recent lawsuit that was initiated by the U.S. Securities and Exchange Commission.

Montenegro police noted that Kwon and his companion had “falsified travel” documents that derived from Costa Rica and the duo was looking to fly out to Dubai. The police also said that upon a luggage inspection, there were also travel documents from South Korea and Belgium. Montenegro’s interior ministry said that Kwon’s Belgium identification was also forged documents. The name of Kwon’s traveling companion has not yet been disclosed.

What do you think about Do Kwon getting arrested in Montenegro after getting caught with falsified travel documents? Share your thoughts about this subject in the comments section below.