Terraform Labs Founder Do Kwon Denies Knowledge of Counterfeit Passport in Montenegro Trial

During the hearing held on June 16th at the Podgorica District Court in Montenegro, Terraform Labs founder Do Kwon strongly denied any involvement in the counterfeit passport case. Kwon, a key figure in the collapse of the cryptocurrency ‘Terra Luna’, appeared in court as specific details about the case emerged.

According to the proceedings, Kwon revealed that he had obtained a passport through a Singapore agency recommended by a friend. He explained that he had completed all the necessary paperwork and received a Costa Rican passport through the agency. Kwon stated that he had traveled extensively using the Costa Rican passport and had no reason to doubt its authenticity.

When Judge Ivana Vecic inquired about the agency’s name, Kwon admitted that it was in Chinese, but he was unable to recall the precise details. He strongly emphasized the innocence of his associate, Han Chang-Joon, who was apprehended with him, and requested that any penalties for the fake passport be imposed solely on him. In response, Han expressed unwavering trust in Kwon and believed that the agency had handled the passport application legally. Both Kwon and Han expressed their desire to expedite the trial, and confirmed that they would not apply for reinvestigation of the Costa Rican and Belgian passports.

Prosecutor Harris Chabotich argued that the passport in question was not issued by a legitimate institution and had been created with bad intentions. Notably, the Belgian passport bore a different name and date of birth, providing clear evidence of fraudulent activity.

Following the final arguments from both sides, Judge Becic announced that the ruling would be delivered on June 19th at 2:00 pm.

The trial stems from the arrest of Kwon and Han on March 23 at the Podgorica International Airport. The pair was apprehended while attempting to board a charter flight to Dubai, UAE, using a fake Costa Rican passport. Both individuals now face charges of forgery of official documents.