The Terraform founder Do Kwon, facing eight count charges in the United States for the ecosystem crash, recently denied two allegations against him.
He was accused of traveling with forged documents and sending financial donations to a former Montenegro minister. But according to a South Korean media, Segye’s report, Do Kwon told the Montenegrin Basic Court that he received his travel documents from a Chinese agency and wasn’t aware they were forged.
Kwon also denies sending financial donations to the current leader of the Europe Now party Milojko Spajic, during his tenure as the Montenegro finance minister.
Do Kwon Denies Forging Documents
During his arrest in March 2023, the Montenegro authorities announced that Do Kwon was traveling with fake documents. A Twitter account of the European country’s Interior Minister, Filip Adzic, wrote;
The person is suspected of being one of the most wanted fugitives, South Korean national Do Kwon, a co-founder and CEO of the Singapore-based Terraform Labs.
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Adzic also added:
The former cryptocurrency king, who is behind losses of over $40 billion, has been apprehended at the Podgorica airport with forged documents.
However, Do Kwon has denied forging his traveling documents and passports, including his Costa Rican passport.
Instead, he blamed a Singaporean agency stating:
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.
Do Kwon also stated that he hadn’t doubted the authenticity of his travel documents since they’d been with him for many years. Regarding the Singaporean agency that supposedly issued the document, the Terraform founder stated he couldn’t remember the exact name but only knew it was written “in Chinese.”
Terraform Founder Denies Sending Funds to Montenegro’s Former Finance Minister
The second allegation Do Kwon denied was about sending payments to the former finance minister of Montenegro, Milojko Spajic, the current Europe Now party leader.
On June 17, a Radio Free Europe regional arm reported that Do Kwon allegedly contacted Spajic through a letter he sent to many officials in Montenegro before the country’s last elections. But during the court hearing, Do Kwon’s lawyers stated this is categorically denied and it is not true.
Apart from Do Kwon’s lawyers, the former finance minister also denied having anything to do with the Terraform founder. However, on June 6, a Montenegro news outlet Balkinsight reported that the country’s outgoing prime minister urged the prosecutors to investigate the relationship between Kwon and Spajic.
Also, on June 9, a Twitter account FatMan, dedicated to updating the crypto community about Terra issues, shared an update about Do Kwon’s financial donations to Spajic. The Terraform founder has, however, denied the ties in the recent hearing.
Following the court session, the presiding judge Ivana Becic announced that June 19 would be the date for a verdict on the forgery charges.
Meanwhile, Do Kwon will remain in extradition custody for six months waiting for the court to grant or reject the South Korean extradition request.
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