Kwon’s denial comes as a response to the accusations linking him to the forged travel documentation and alleged financial ties with Milojko Spajić. The Terra founder asserts that these claims are baseless, denying personal involvement.
Terraform Labs co-founder and CEO Do Kwon has reportedly denied allegations of passport forgery, shifting the blame onto an undisclosed Chinese travel agency.
Do Kwon and Passport Scandal
Kwon’s denial comes as a response to the accusations linking him to the forged travel documentation and alleged financial ties with Milojko Spajić. The Terra founder asserts that these claims are baseless, denying any personal involvement.
During a recent court hearing in Montenegro, Kwon maintained his innocence, claiming he was unaware that the passport he had been traveling with had been forged. According to him, he obtained the travel documents, including a Costa Rican passport, through third-party agencies.
Kwon explained to the Montenegrin Basic Court that he acquired the Costa Rican passport by completing the necessary paperwork through a Singaporean agency recommended by a friend. Additionally, he disclosed that he obtained his Belgian passport through another agency. He defended himself by stating that he had used the Costa Rican passport for several years without any reason to doubt its authenticity.
“I received my Costa Rica passport after filling in the documents required by a Singaporean agency that was recommended to me by a friend. I received my Belgian passport through another agency.”
When pressed for further details about the agency responsible for his passports, Kwon admitted he could not recall the specific name but mentioned that it was written in Chinese.
In addition to refuting the passport forgery allegations, Kwon also stood up for Han Chong-joon, the former chief financial officer at Terraform Labs, requesting the court to punish him instead of Chong-joon. It is worth noting that both Kwon and Chong-joon were arrested in Montenegro after evading authorities for months following the sudden collapse of the Terra-luna blockchain last year.
Do Kwon Refute Claims of Financial Donation
Furthermore, Kwon denied claims of making financial donations to Milojko Spajić, Montenegro’s former finance minister and the current leader of the Europe Now party.
Reports had earlier suggested that Kwon had reached out to Spajić in a letter sent to multiple Montenegrin officials before the recent elections in the country.
However, Kwon’s lawyers vehemently denied the allegations, labeling them as false accusations. Spajić, on the other hand, rebuffed any connection to Kwon, although the rumored financial ties between the two individuals received significant media attention.
Following the hearing, Judge Ivana Becić disclosed that she would deliver a verdict on the forgery charges on June 19. In the meantime, Kwon will be held in extradition custody for up to six months, allowing the local court to consider extradition requests from both the United States and South Korea.
Since his arrest, South Korea and the United States authorities have been actively seeking Kwon’s extradition to bring him to face charges in both countries.
Recently, Kwon was moved to extradition custody, where he will remain until the completion of the process, which will determine whether he will be extradited to the US or his home country of South Korea.
In May, Coinspeaker reported that the High Court of Montenegro had rejected a bail application made by the disgraced Terra co-founder due to insufficient evidence.
However, a Montenegro court recently accepted a revised edition of the proposed bail for $436,000.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
