• Do Kwon, founder and CEO of Terraform Labs, denies forging his travel documents.
• He claims the fake passport and travel documents were issued by an unnamed Chinese agency recommended by a friend.
• Do Kwon is wanted in the US and South Korea for passport fraud allegations while Han Chong-joon is innocent of the charges.
Do Kwon Blames Chinese Agency
Do Kwon, the founder and CEO of Terraform Labs and creator of the collapsed Terra algorithmic stablecoin project, has denied forging his travel documents. In court he 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.
Han Chong-Joon Denied Charges
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, he is currently wanted in both United States and South Korea where he could face multiple jail terms if convicted.
South Korean Media Reports
Per South Korean media platforms MBN News and Segye Ilbo, Kwon denied forging his travel documents claiming that he did not know the documents were forged as they were received through “trusted” agencies. He added that Han was innocent of all charges while urging authorities to punish him alone if somebody must be held accountable for this offense.
Prosecutors Claim Millions in Swiss Account
Prosecutors have also claimed that Do Kwon has millions stashed away in a Swiss account despite denying any wrongdoing or illegal activity related to these funds which are believed to be connected to his business ventures with Terraform Labs prior to its collapse last year.
Political Party Allegations
Additionally, reports have suggested that Do Kwon may have been funding a political party in Montenegro prior to his arrest however no further details have been released at this time regarding these alleged activities or involvement with any organizations abroad