Co-founders of Terraform Labs, Do Kwon and Han Chang-jun, are facing charges of document forgery by Montenegro prosecutors. The charges follow Kwon’s arrest in March, where he was accused of attempting to board a private plane at Podgorica airport with fake documents. Han, Terraform’s former CFO, was also arrested in the same location and is facing similar charges. Prosecutors in Montenegro have requested an extension to their detention period. Meanwhile, Shin Hyun-seung, another Terraform co-founder, remains free in South Korea.
Despite attempts by local authorities to arrest him, the Seoul Southern District Court has denied the request. The charges against Kwon and Han may have serious implications for the future of Terraform Labs. As the co-founders of the company, their actions could potentially harm the company’s reputation and financial standing. It remains to be seen how this will play out for the company and its stakeholders.
