• Do Kwon denies passport forgery and blames a Chinese agency.
• Alleged financial ties between Do Kwon and Montenegrin politician disputed.
• Judge Ivana Becić announces verdict on forgery charges on June 19.

Do Kwon Accused in Passport Forgery Case

Do Kwon, the founder of Terraform Labs, has denied allegations of forging travel documentation in a court hearing held in Montenegro. He attributed the passport forgery to a Chinese “agency” that he had used to procure his passports from acquaintances. However, reports have suggested clandestine sponsorship of a prominent Montenegrin politician using illicit funds which was denied by Do Kwan during the hearing.

Verdict Announced on June 19

Judge Ivana Becić announced that a verdict on the forgery charges will be delivered on June 19 while Do Kwon remains in extradition custody for up to six months as requested by South Korea and the United States. The collapse of Terraform Labs‘ Terra ecosystem resulted in substantial losses estimated at $40 billion and could lead to imprisonment for document forgery charges if found guilty.

Alleged Financial Ties Denied

During the court hearing, Do Kwon vehemently denied allegations of financial donations to Milojko Spajić, current leader of Europe Now party. Reports have circulated in Korean media suggesting his clandestine sponsorship using illicit funds which were denied by Do Kwan during the hearing.

Extradition Requests from South Korea and U.S.

Terraform Lab’s collapse resulted in extradition requests from South Korea and U.S., potentially leading to imprisonment if found guilty of document forgery charges against him after this case is concluded on June 19th with an expected verdict announcement by Judge Ivana Becić .

Collapse of Terra Ecosystem Led To Substantial Losses

The collapse of Terraform Lab’s Terra ecosystem led to substantial losses estimated at up to $40 billion and might result in imprisonment if proven guilty after this case concludes with a verdict announcement due on June 19th by Judge Ivana Becić .