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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto King Do Kwon Behind Bars: Sentenced To 4 Months In Montenegrin Jail

Ronaldo Marquez
Ronaldo Marquez
1 year ago
2 mins read
Crypto

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According to a Reuters report, Crypto entrepreneur Do Kwon, the former CEO of Terraform Labs, has been sentenced to four months in prison by a court in Montenegro for allegedly using forged passports. 

Crypto Mogul Faces Jail Time For Passport Forgery

Kwon, who is charged with multibillion-dollar fraud in the United States and is wanted by South Korean authorities on similar charges, was detained in March along with Han Chang-Joon, the former finance officer of Terraform Labs, as they attempted to board a flight to Dubai at the airport in Montenegro’s capital, Podgorica. Both men were charged with forging official documents.

Related Reading: Trust Wallet Token (TWT) Tallies 22% In Last Week, Will It Test $1 Mark?

Kwon had argued that he believed the Costa Rican passport was a legitimate “golden passport” available to wealthy applicants seeking fast-track citizenship in certain countries. However, the court rejected this explanation and handed down the prison sentences.

The case has attracted widespread media attention, as Kwon is wanted by US and South Korean authorities on fraud charges related to the collapse of Terra last May. The company’s collapse led to over $60 billion in losses and sparked investigations into Kwon’s activities.

As Bloomberg reported on June 8th, Terraform Labs co-founder Do Kwon may face multiple jail terms in different countries, according to senior South Korean prosecutor Dan Sunghan. 

During an interaction with Bloomberg, Sunghan stated that South Korea had conducted most of the foundational investigation into the collapse of the Terra ecosystem and had more evidence on the matter than US authorities.

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Sunghan believes that carrying out the investigation and trial of Kwon in South Korea is the most efficient approach to getting justice. He also suggested that Kwon could face jail sentences for different charges in two separate countries, in addition to the recent decision by Montenegro’s court. 

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Bitcoin’s consolidation on the 1-day chart. Source: BTCUSDT on TradingView.com

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
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