Indictment for Document Forgery
Prosecutors in Montenegro have issued indictments against Terra co-founder Do Kwon and former CFO Han Chang-jun for alleged document forgery. Both executives were arrested in March at Podgorica airport while attempting to board a flight to Dubai using fake documents.
Arrest and Detention Extension
Kwon and Han were arrested on March 23, and Montenegro prosecutors have since requested an extension of their detention period. The charges come as global prosecutors continue to make progress in cases involving prominent crypto executives.
Co-Founder Shin Hyun-seung Still Free in South Korea
Terraform co-founder Shin Hyun-seung, also known as Daniel Shin, remains free in South Korea despite attempts by local authorities to arrest him. The Seoul Southern District Court denied the request, citing little likelihood of Shin fleeing or destroying evidence related to the case.
Other Crypto Executives Facing Legal Challenges
In other crypto industry news, Thodex founder Faruk Fatih Ozer has been detained by Turkish police for allegedly fleeing with $2 billion stolen from the exchange in 2021. Tornado Cash developer Alexey Pertsev is set to be released from jail after being arrested in August, with his return home scheduled for April 26.
The indictment of Terra co-founder Do Kwon and former CFO Han Chang-jun highlights the increasing scrutiny and legal challenges faced by the crypto industry. As authorities around the world continue to crack down on illicit activities and strengthen regulatory measures, it is crucial for the industry to ensure transparency and compliance to maintain public trust and support for the future growth of digital assets.