Terra

Dubai

<figure><img src="https://u.today//sites/default/files/styles/1200x900/public/2023-06/36310.jpg" alt="Cover Image" width="800"
 height="500">
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 </figure>Chinese crypto journalist and blogger Colin Wu has taken to Twitter to shared the news about Terra founder <a href="https://u.today/terras-do-kwon-bail-status-overturned-in-montenegro">Do Kwon</a>. Terraform Labs and Terra ecosystem powered by LUNA token and UST stablecoin collapsed about a year ago, causing the crypto market to dive in deep in the red.<blockquote class="twitter-tweet">According to DL News, the Montenegrin court today handed down a verdict on Do Kwon's forged passport case, and sentenced Do Kwon and Han Chang-Joon to four months in prison. Both pleaded not guilty in court on Friday. <a href="https://t.co/1sQSsfj94P">https://t.co/1sQSsfj94P</a>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1670785893668646912?ref_src=twsrc%5Etfw">June 19, 2023</a></blockquote>Kwon and his former CEO Han Chang-Joon have both been “granted” a sentence of 4 months in prison by Montenegrin court. On Friday last week, both gentlemen pleaded innocent in court.Kwon and Han used fake passports of Costa Rica citizens earlier this year as they tried to head from Montenegro to Dubai on a private airplane and go into hiding. Besides, authorities of the US and South Korea insist on their extradition as these two are charged with conducting fraud on Terra investors before it collapsed last year. Investors lost approximately $60 billion.However, Kwon denied the charges, stating in court that he had got hold of the passport through a Singapore travel agency. The former “crypto king” claimed he thought it was a “golden passport” and a legitimate one. This sort of passport is provided to individuals who accelerate acquiring citizenship in certain countries for large investments.<a href="https://u.today/shib-smashes-major-new-utility-milestone">card</a>Prior to getting into Montenegro, Kwon and Han had been in hiding from the authorities for about half a year. They were finally taken in custody in Podgorica Airport this spring. A local bodyguard got alerted to their documents and brought security service officers of the airport to deal with Kwon.

Just In: LUNA Founder Do Kown Slammed with 4-Month Sentence in Prison

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