Do Kwon, founder of Terraform Labs, recently appeared in court in Montenegro. He was to answer charges of falsifying travel documents and financial ties to Milojko Spajić. Obviously, Do Kwon denies all these accusations.
Do Kwon accused of falsifying travel documents
Arrested in Montenegro in March 2023, Do Kwon claimed before the Montenegrin court thathe did not know that his passports were forged. According to him, he had obtained these documents through third-party agencies recommended by acquaintances. He said he received a Costa Rican passport and a Belgian passport through these agencies. Kwon also mentioned that he had been using his Costa Rican passport for years and therefore had no no reason to doubt its authenticity.
Prosecutors asked Kwon to provide more details about these agencies. But he claimed not to remember exactly and only mentioned that the name of the agency was in Chinese. This statement raised questions about the veracity of his claims.
Do Kwon denies financial ties to Europe Now party leader
During his court appearance, Do Kwon also denied allegations that he made financial donations to Milojko Spajić. This is the former finance minister of Montenegro and current leader of the Europe Now party. Of the reports indicate that Kwon contacted Spajić through a letter sent to several Montenegrin officials before the elections.
Kwon’s lawyers have flatly denied these allegations. On his side, Spajić also stated that he has no connection with Kwon.. However, the alleged financial ties between the two have been widely reported by Montenegrin media.
Do Kwon proclaims his innocence loud and clear. Unfortunately, he seems to have trouble find evidence of his innocence. The court decision on the tampering charges is expected on June 19. Until that day, Do Kwon remains detained in Montenegro. His release on bail was nevertheless approved. Either way, it’s a case to follow. She will definitely have significant implications for the future of Kwon and Terraform Labs.
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