Do Kwon accuses Chinese agency of fake passport scandal.

Terraform Labs co-founder and CEO, Do Kwon, has denied allegations of passport forgery and instead blames an undisclosed Chinese travel agency. Kwon’s denial comes after he was accused of having ties to forged travel documents and financial connections with Milojko Spajić. Kwon claims that these accusations are unfounded and that he was not personally involved. He explains that he obtained his travel documents, including a Costa Rican passport, through third-party agencies. Kwon asserts that he was unaware that the passport he had been traveling with had been forged. He defended himself by stating that he had used the Costa Rican passport for several years without any reason to doubt its authenticity.

Kwon also defended Han Chong-joon, the former chief financial officer at Terraform Labs, requesting the court to punish him instead of Chong-joon. Both Kwon and Chong-joon were arrested in Montenegro after evading authorities for months following the sudden collapse of the Terra-luna blockchain last year.

Kwon denied claims of making financial donations to Milojko Spajić, Montenegro’s former finance minister, and the current leader of the Europe Now party. Reports had suggested that Kwon had reached out to Spajić in a letter sent to multiple Montenegrin officials before the recent elections in the country.

Following the hearing, Judge Ivana Becić disclosed that she would deliver a verdict on the forgery charges on June 19. In the meantime, Kwon will be held in extradition custody for up to six months, allowing the local court to consider extradition requests from both the United States and South Korea.

Since his arrest, South Korea and the United States authorities have been actively seeking Kwon’s extradition to bring him to face charges in both countries. Recently, Kwon was moved to extradition custody, where he will remain until the completion of the process, which will determine whether he will be extradited to the US or his home country of South Korea. The High Court of Montenegro had rejected a bail application made by Kwon due to insufficient evidence. However, a Montenegro court recently accepted a revised edition of the proposed bail for $436,000.

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