Breaking: Terra’s Do Kwon, Former CFO Found Guilty By Montenegro Court

The Montenegro Basic Court on Monday ruled that Terra co-founder Do Kwon and former chief financial officer Han Chang-joon are found guilty in the passport forgery case and sentenced to four months in jail.

Montenegro’s authorities expedite their investigations and legal procedure before Terra co-founder Do Kwon is extradited to South Korea within the next six months.

Do Kwon Found Guilty By Montenegro Court

During a hearing at the Basic Court on June 19, Montenegro Court Judge Ivana Becic ruled that defendants Do Kwon and Han Chang-joon used fake Costa Rican passports in an attempt to board a flight to Dubai in March. Both are sentenced to four months in jail, which will include the time spent in custody from March 23 to June 15.

Judge briefly explained her decision why the sentence is lower. She also said the dissatisfied party can appeal within eight days of the receipt of the written verdict.

On June 15, Montenegro High Court also approved Do Kwon and Han Chang-joon’s bail request. However, at the request of South Korea, the Montenegro High Court ordered extradition custody for up to six months. Thus, both will remain in custody.

On June 16, Do Kwon and Han Chang-joon said they didn’t know the passports under the economic citizenship program were fake as they traveled around the world with these Costa Rican and Belgian passports. Terra founder Do Kwon also revealed how he gained passports in Singapore.

Moreover, Do Kwon testified before the Special State Prosecutor’s Office (SDT) and the defense attorneys that he doesn’t have any financial transactions or meetings with former finance minister Milojko Spajic.

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Extradition to South Korea

Goran Rodić, the lawyer representing Do Kwon and Han Chang-joon, said “It is still too early to talk about whether the two will be extradited.” They plan to file a complaint against the detention after receiving written verdict within 30 days.

Meanwhile, a Montenegro High Court looking to extradite both South Korean citizens to their country as the court looks to expedite the extradition proceedings.

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