Terra Co-founder Do Kwon Sentenced to 4 Months Prison in Montenegro

• Any unsatisfied party has eight days to file an appeal.
• Do Kwon stated that he has never met or conducted business with Milojko Spajic.

On Monday, the Basic Court of Montenegro decided in favor of the prosecution in the passport falsification case, convicting Terra co-founder Do Kwon and former CFO Han Chang-joon. Within the next six months, Montenegrin officials will have completed their investigation and legal process necessary to extradite Terra co-founder Do Kwon to South Korea.

Judge Ivana Becic of the Montenegrin Court found on June 19 that defendants Do Kwon and Han Chang-joon used counterfeit Costa Rican passports to try to board a trip to Dubai in March. The case was heard in the Basic Court. Both were given prison terms of four months, which will encompass the period they were detained from March 23 to June 15.

Eight Days to File an Appeal

Moreover, the judge quickly stated her reasoning for reducing the punishment. She also said that the unsatisfied party has eight days from the time they received the written decision to file an appeal.

Earlier, Montenegro’s highest court granted bail to Do Kwon and Han Chang-joon on June 15. However, the Montenegrin High Court mandated up to six months in extradition detention at South Korea’s request. As a result, they’ll both be held in custody.

Do Kwon and Han Chang-joon claimed on June 16 that they were unaware their passports issued under the economic citizenship program were counterfeit as they traveled the globe using documents purporting to be from Costa Rica and Belgium. Do Kwon, founder of Terra, said he acquired these passports in Singapore.

In addition, Do Kwon stated before the SDT and the defense lawyers that he has never met or conducted business with the ex-finance minister, Milojko Spajic.