- In March, he tried to leave the country with forged documents
- He has now been sentenced to 4 months in prison.
- The court found Han Chang-jung guilty along with Kwon
The founder of Terraform Labs, Do Kwon, has been found guilty in the forged documents case. Now the scandalous crypto-businessman will have to serve 4 months behind bars. But there is a nuance, it also includes the time he spent in custody from March 23 to June 15. So his actual time in prison could be about a month.
Han Chan-jung, former Terraform CFO, was sentenced to the same as Kwon, although the latter argued that only he was guilty and only he should be held responsible.. Both were detained at the airport in March when they tried to leave the country using fake passports. They will be able to appeal within eight days of receiving a copy of the verdict.
On June 16, Terra’s co-founder said he was unaware of the fake passport and executed the documents on recommendation. Kwon said he obtained the papers through an agency that a friend recommended to him.
Despite the Podgorica trial court ruling, the question of whether authorities will deport Kwon to South Korea or the United States remains unresolved.