Do Kwon, the previous CEO of Terraform Labs, whose stablecoin TerraUSD crashed in 2015, has actually apparently been charged with scams by the U.S. after being jailed Thursday early morning in Montenegro.
The Wall Street Journal and Blomberg News reported late Thursday that Kwon was charged by federal district attorneys in Manhattan with 8 counts, consisting of securities scams, products scams and wire scams and conspiracy.
Kwon had actually been a worldwide fugitive after dropping out of sight last fall after his native South Korea provided a warrant for his arrest.
Kwon’s arrest was revealed Thursday early morning by Filip Adzec, Montenegro’s Minister of Interior, in a tweet: “The previous ‘cryptocurrency king,’ who lags losses of more than $40 billion, was apprehended at the Podgorica airport with falsified files, and the very same is declared by South Korea, the U.S.A. and Singapore.”
Adzec included another tweet that “among the world’s most desired fugitives was jailed in Podgorica,” stating that Montenegrin authorities have “apprehended an individual thought of being among the most desired fugitives, South Korean resident Do Kwon.”
In February, the U.S. Securities and Exchange Commission implicated the Singapore-based Terraform Labs and CEO of scams. The declaration from the SEC declared that Terraform and Kwon misguided and tricked financiers while marketing the Luna token, a cryptocurrency that crashed in Might 2022 and triggered a devastating causal sequence throughout the crypto market.