{"id":78622,"date":"2023-05-11T17:48:48","date_gmt":"2023-05-11T14:48:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78622"},"modified":"2025-09-11T06:23:41","modified_gmt":"2025-09-11T03:23:41","slug":"do-kwon-pleads-not-guilty-to-document-forgery","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/do-kwon-pleads-not-guilty-to-document-forgery\/","title":{"rendered":"Do Kwon Pleads Not Guilty to Document Forgery"},"content":{"rendered":"

Terraform Labs (TFL) chief executive Do Kwon and the company’s former chief financial officer Han Chang-joon have not pleaded guilty to document forgery, according to Bloomberg<\/a>.<\/p>\n

During a hearing in a Montenegrin court, defence counsel Branko Andjelic proposed releasing the defendants on bail of \u20ac400,000 ($437,000) each and moving them to house arrest at his girlfriend’s apartment.<\/p>\n

Prosecutor Haris Sabotic objected strongly to the motion. He said the defendants have ample funds, but \u201cno interest\u201d in remaining in Montenegro.<\/p>\n

Judge Ivana Becic did not say when she would rule on the bail.<\/p>\n

Do Kwon himself said that if placed under house arrest, \u201che will not hide\u201d and is willing to accept security measures.<\/p>\n

In his words, most of his assets are in a \u201cvolatile and liquid\u201d form, and their market value is difficult to assess. He also said that, jointly with his wife, he owns an apartment in Seoul valued at about \u20ac3 million.<\/p>\n

Kwon expressed readiness to provide more details about his assets and account numbers if the hearing is held in private, without media presence.<\/p>\n

The next hearing is scheduled for 16 June. Under Montenegrin law, using forged documents is punishable by up to five years in prison.<\/p>\n

As reported, in September 2022 an arrest warrant for Do Kwon was issued<\/a> in South Korea and five other TFL employees on charges including violations of the capital markets law.<\/p>\n

Earlier, the South Korean prosecutor leading the investigation urged the extradition of the TFL CEO to South Korea<\/a>.<\/p>\n

The United States also seeks his extradition, where he faces fraud charges from the Securities and Exchange Commission<\/a> and the U.S. Attorney’s Office for the Southern District of New York<\/a>.<\/p>\n

The extradition procedure will begin after Montenegrin authorities complete the proceedings in the document forgery case<\/a>. In late March, Kwon tried to fly from Podgorica airport to Dubai, but he was arrested by local police<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

CEO Terraform Labs Do Kwon and former CFO Han Chang-joon did not plead guilty to document forgery.<\/p>\n","protected":false},"author":1,"featured_media":78623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1407,852],"class_list":["post-78622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-montenegro","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78622"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78622\/revisions"}],"predecessor-version":[{"id":78624,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78622\/revisions\/78624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78623"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}