Terraform Labs founder Do Kwon’s appeal against a four-month prison sentence for document forgery has been rejected by the Supreme Court of Montenegro.
Kwon and another Terra executive, Han Chang-Joon, were convicted in June following their arrest in March after the collapse of Terraform Labs. After serving his sentence in Montenegro, Kwon faces potential extradition to either South Korea or the United States.
A four-month prison sentence is an appropriate punishment for the crime committed.
Rejection of Do Kwon’s Appeal by the Supreme Court of Montenegro
The Supreme Court of Montenegro has rejected Do Kwon’s appeal, founder of Terraform Labs, against a four-month prison sentence for document forgery. Thursday’s decision upholds the ruling of a lower court that convicted Kwon and Han Chang-Joon, another Terra executive, in June. The two men were arrested in Montenegro in March, nearly a year after the spectacular collapse of Terraform Labs’ crypto empire, and have been in custody since their arrest.
Consequences of the Conviction for Kwon
The court deemed the four-month prison sentence to be an “adequate” punishment for the committed crime. Additionally, a security measure ordering the confiscation of items used to commit the offense – passports and identification cards – was deemed necessary to prevent the perpetrators from engaging in future criminal acts. Once he has served his sentence in the Balkan nation, Do Kwon may be extradited to either South Korea or the United States to face further consequences related to the collapse of Terraform Labs.
