Prosecutors in Montenegro have reportedly issued the indictments to Do Kwon after arresting the executive in late March.
The Prosecutor’s Office of the State of Podgorica has indicted former Terraform Labs co-founder and former CEO Kwon for allegedly forging legal documents.
The charges came a few weeks after Kwon was arrested on March 23 while trying to board a private plane at an airport in Podgorica, the capital of Montenegro. He allegedly was using fake documents while attempting to board the flight to Dubai.
Following the issuance of the indictments, Montenegro prosecutors have reportedly requested an extension of the detention period for the two former Terraform executives.
While Han and Kwon are facing charges in Montenegro, one other Terraform co-founder Shin Hyun-seung, also known as Daniel Shin is still walking free in South Korea. Local authorities have attempted to arrest the exec, but the Seoul Southern District Court denied the request. After questioning Shin, the court said that there was little likelihood that Shin would flee or destroy any evidence related to the fall of Terra.
