After detaining Terra co-founder Do Kwon in late March, prosecutors in Montenegro reportedly issued the indictments.
According to the Korean industry-focused news source Block Media, the Prosecutor’s Office of the State of Podgorica has prosecuted former Terraform Labs co-founder and former CEO Kwon for allegedly fabricating legal documents.
The allegations come just a few weeks after Kwon was arrested on March 23 while attempting to board a private plane at an airport in Podgorica, Montenegro’s capital. He allegedly tried to board the flight to Dubai using forged documents.
According to the newspaper, Terraform’s former chief finance officer, Han Chang-jun, is facing identical charges. In March, Han and Kwon were arrested in Podgorica.
Following the issue of the indictments, Montenegrin prosecutors reportedly demanded that the two former Terraform executives’ incarceration be extended.
While Han and Kwon face charges in Montenegro, another Terraform co-founder, Shin Hyun-seung, also known as Daniel Shin, remains at large in South Korea. The executive was arrested by local officials, but the Seoul Southern District Court refused the motion. After questioning Shin, the court concluded that there was little chance that Shin would flee or destroy any evidence relating to Terra’s fall.
The announcement comes as more worldwide prosecutors accomplish important advances in cases involving some crypto executives. On April 20, Turkish authorities apprehended Faruk Fatih Ozer, the founder and former CEO of Thodex, who allegedly fled Turkey in 2021 with $2 billion stolen from the exchange.
Also on April 20, Forksdaily announced that Tornado Cash developer Alexey Pertsev, who was arrested by Dutch authorities in August, was poised to be released. The developer is slated to return home on April 26, which is also his birthday.