Do Kwon faces fraud charges from US prosecutors hours after arrest
Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro.
The 31-year-old entrepreneur was charged with eight separate counts, including securities fraud, commodities fraud and wire fraud, according to a March 24 report from Bloomberg.
What appears to be the official indictment against Kwon states that he was also charged with conspiracy to defraud and engage in market manipulation. While it was signed by United States Attorney Damian Williams, no date is mentioned.
Under the first charge, conspiracy to defraud, the Southern District of New York claim that they have jurisdiction over Kwon because he made a series of false and misleading statements during a TV interview that was transmitted to, among other places, the Southern District of New York, about the extent to which the Terra blockchain had been adopted by users.
Filip Adzic, the minister of interior of Montenegro, reported on March 23 that an individual suspected of being the former “cryptocurrency king” was detained at the Podgorica airport with “falsified documents,” and authorities are awaiting official confirmation of identity.
Kwon was detained in Podgorica Airport with Hon Chang Joon while trying to fly to Dubai, Adzic stated.
In a follow-up tweet, the Montenegro Interior Ministry reported that Kwon used forged travel documents from Costa Rica.
Article 412 paragraph 2 of the Criminal Code of Montenegro.On 23 March 2023, during the passport control on the flight to Dubai, they used forged travel documents from , which was established by Interpol checks. (2/3)
South Korean prosecutors have issued an arrest warrant against Kwon, who faces a series of fraud charges and
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