Montenegro has allegedly arrested the disgraced crypto entrepreneur Do Kwon, South Korean news outlet Yonhap reports, citing South Korean police.
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Filip Adzic, Minister of the Interior of Montenegro, also took to Twitter to say that a person suspected of being Terra Co-Founder has been arrested on Mar. 23. As per reports, ex-Terra executive, Han Mo, was also arrested in Podgorica. However, no final confirmation regarding Mo has been made so far.
Montenegro shares borders with Serbia, where Kwon had reportedly been hiding from South Korean authorities for the last few months. In February 2023, the US Securities and Exchange Commission (SEC) filed a civil fraud lawsuit against Do Kwon, saying he orchestrated a "multi-billion dollar crypto asset securities fraud" involving an algorithmic stablecoin and other crypto asset securities.
The watchdog also alleges that Terraform and Kwon offered and sold investors other means to invest in their crypto empire, including the crypto asset security tokens.
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