Do Kwon faces new charges in the US and Montenegro

US prosecutors charge Do Kwon with committing commodity fraud, securities fraud, wire fraud and engaging in market manipulation.

Eight counts of fraud

Do Kwon’s legal problems continue to worsen.

Yesterday, the United States Department of Justice filed a complaint against Terra leader Do Kwon, charging him with eight different counts of fraud: conspiracy to defraud, two counts of commodity fraud, two counts of securities fraud, two counts of wire fraud, and participation in market manipulation. The DOJ is seeking Kwon’s extradition to the US, according to CoinDesk.

kwon was arrested yesterday in Montenegro, at the Podgorica airport. local media reported that the CEO of Terraform Labs was trying to board a flight to Dubai using a fake Costa Rican passport. He was also carrying travel documents from South Korea and Belgium.

Kwon’s arrest was made public by Montenegrin Minister of Internal Affairs Filip Adžić, who announced on Twitter that Montenegrin police had detained “a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon.” South Korean authorities later confirmed Kwon’s identity through photographic data and fingerprint information.

In addition to the new charges brought against him by US prosecutors, Kwon also faces criminal charges in Montenegro for falsifying documents. He is scheduled to appear before the Podgorica High Court today for an extradition request hearing. It is unclear if Kwon will be extradited to South Korea or the United States; however, his arrest was originally made with a South Korean arrest warrant.

Before his capture, Kwon had repeatedly repeated fixed that he was “not a fugitive,” even though Interpol issued a red notice for him in September, effectively making him a wanted man in 195 different countries.

Disclosure: At the time of writing, the author of this article owned BTC, ETH, and various other crypto assets.