PODGORICA, ME – Montenegro’s Justice Minister, Marko Kovač, announced at a Wednesday press conference that Do Kwon will be charged with forging identification documents before being extradited to South Korea and the U.S. 

Kovač stated, “Primacy is given to the court proceedings led in Montenegro [...] If they are convicted for the criminal offense of falsifying identification documents, only after they served their prison sentence is it expected that they will be extradited.”

The disgraced founder of Terraform Labs, and his business colleague, Hon Chang Joon, were arrested at the airport in Monenegro’s capital city, Podgorica, on March 23, for carrying falsified travel documents. U.S. authorities later charged Kwon with fraud and conspiracy about the collapse of his company’s cryptocurrency, TerraUSD, last May.