Do Kwon, co-founder of Terraform Labs, was arrested at Podgorica airport on suspicion of having forged documents, according to Montenegrin Interior Minister Filip Adzic. Adzic added that after Montenegrin police detained the suspect, investigators are “waiting for an official confirmation of his identity.”
Terra co-founder reportedly arrested with false documents at Montenegro’s Podgorica airport
Do Kwon, co-founder of Terraform Labs, was arrested in Montenegro, the country’s Interior Minister Filip Adzic reportedly said. Montenegrin officials shared two tweets shortly before 9 a.m. Eastern time Thursday.
“In Podgorica, one of the most wanted fugitives in the world has been arrested,” Adzicsaid. The Interior Minister added: “Montenegrin police have detained one of the most wanted fugitives, South Korean national Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.”
Do Kwon, who was recently sued by the U.S. Securities and Exchange Commission and his company Terraform Labs, has reportedly been in hiding for some time; some suspect Kwon is hiding in Singapore, while others believe the CEO of Terraform Labs is in Dubai . There were also reports that Kwon is in Serbia, where the SEC has accused Kwon and Terraform Labs of committing a multi-billion dollar fraud and selling unregistered securities.
“The former ‘cryptocurrency king’ behind more than $40 billion in losses is being held at Podgorica airport with forged documents and is being sought by South Korea, the US, and Singapore,” Adzic further, explainedon Twitter.” We are waiting for official confirmation of the identity,” the Montenegrin politician added.
The Montenegrin government and Interior Minister Filip Adzic have yet to confirm the identity of the arrested individuals. This article is still developing and will be updated as soon as the identities of those detained in Montenegro are officially confirmed.
Image credits: Shutterstock, Pixabay, Wiki Commons.