Do Kwon has denied forging his travel documents. Kwon has told a Podgorica District Court that the fake passport and travel documents allegedly found on him were issued by an unnamed Chinese agency recommended by a friend.
Do Kwon, the founder and CEO of Terraform Labs and the creator of the collapsed Terra algorithmic stablecoin project, was arrested by law enforcement agents in Montenegro last March. He was trying to flee the country with forged travel documents alongside former chief financial officer Han Chong-joon. However, now Kwon denies any wrongdoing.
Per South Korean media platforms MBN News and Segye Ilbo, Kwon, the once most wanted fugitive in the world, has denied forging his travel documents, telling a Podgorica District Court that the passport was issued by a Chinese-named agency, whose exact name he can no longer remember.
Kwon, who pleaded not guilty to passport fraud allegations in Montenegro last month, claims he did not know the documents were forged, as he received all his travel papers through “trusted” agencies.
Kwon has also told prosecutors that Han is innocent of the charges and has urged authorities to punish him alone if somebody must be punished for the forged travel document offense.
While Do Kwon remains under house arrest in Montenegro, the fugitive is currently wanted in the United States and South Korea, and prosecutors have hinted that he could face multiple jail terms in both countries.
