Montenegro Prosecutors Indict Terraform Labs Co-Founder and CFO for Document Forgery

04/20/2023 08:22 • Metaverse & Beyond • 62 views

According to reports, Dusko Milanovic, an official of the Prosecutor’s Office in Podgorica, the capital of Montenegro, stated that Montenegro’s prosecutors have filed an indictment against Do Kwon, the co founder of Terraform Labs, and Han Chang joon, the chief financial officer, accusing them of forging personal documents.

Montenegro Prosecutor Prosecuting Do Kwon

In recent news, the Prosecutor’s Office in Podgorica, Montenegro’s capital, has indicted two high-ranking executives of blockchain company Terraform Labs. The accusations claim that the co-founder and the chief financial officer of the company, Do Kwon and Han Chang joon, respectively, forged personal documents.

What is Terraform Labs?

Before diving into the accusations, let’s first take a look at what Terraform Labs does. The company is best known for creating Terra, a blockchain network that aims to provide a stable and decentralized platform for the digital economy. The network employs fiat-pegged stablecoins, Anchor and Mirror, to achieve this.
Since its launch in 2019, Terra has been adopted by various businesses and projects in the blockchain space, including the mobile payment app, Chai, and the decentralized exchange, TerraSwap.

The Accusations

According to official statements, Montenegro prosecutors had been investigating Kwon and Chang joon for several months before filing the indictment. The accusations claim that the two executives had forged personal documents in order to purchase land on the country’s coast.
The prosecutors’ investigation revealed that Kwon presented forged documents to purchase a plot of land in the seaside town of Budva, while Chang joon submitted fake documents to register his ownership of a luxury yacht. The indictment accuses the two executives of falsifying official documents, as well as fraud and money laundering.

Reactions from Terraform Labs

In response to the news, Terraform Labs issued a statement stating that it was aware of the indictment and that it had launched its own investigation into the matter. The statement also mentioned that Kwon and Chang joon had been placed on leave from their positions until further notice.
The news has shaken the blockchain community, as Terraform Labs has gained a reputation for being a trustworthy and reputable company in the space. Industry leaders are watching closely to see how the situation develops and how it will impact the future of the company.

Conclusion

The accusations against Kwon and Chang joon are serious and could have far-reaching consequences for the Terraform Labs company and the blockchain industry as a whole. It remains to be seen how the case will play out, but one thing is certain: document forgery is a serious offense and should not be taken lightly.

FAQs

1. What is Terraform Labs?
Terraform Labs is a blockchain company that created the Terra network.
2. What are the accusations against Terraform Labs’ co-founder and CFO?
Do Kwon and Han Chang joon were indicted for document forgery, fraud, and money laundering.
3. How has Terraform Labs responded to the indictment?
The company has launched its own investigation into the matter and placed the two executives on leave until further notice.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/21272.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.