Do Kwon would appeal the court’s decision to extend his detention – Crypto News Today

Do Kwon would appeal the court’s decision to extend his detention

After his arrest in Montenegro while attempting to steal with false documents, Terraform Labs co-founder Do Kwon is reportedly appealing the court’s decision to extend the detention term to 30 days.

A legal representative for Kwon upheld the appeal against the Montenegrin court’s decision to detain the contractor longer than usual, according to local media Vijesti. The decision came after Kwon was caught using fake documents at Podgorica airport as he tried to fly to Dubai.

While authorities in Montenegro typically grant detention for up to 72 hours, Kwon’s 30-day extension was approved after prosecutors highlighted the strong possibility of escape. The court found that Kwon was a foreign national whose identity was not clearly identified.

Since the collapse of the Terra ecosystem, Kwon has been suspected of moving between Singapore, Dubai and Serbia by South Korean authorities.

Related: South Korea seizes $104m from Terra co-founder on suspicion of unfair profits

On March 23, hours after Kwon’s arrest in Montenegro, US prosecutors in New York charged the entrepreneur with fraud.

As Cointelegraph reported, the 31-year-old was charged with eight separate counts, including commodities fraud, securities fraud, wire fraud and conspiracy to defraud. and engage in market manipulation.

Magazine: SEC Targets Coinbase, Do Kwon Arrested, and FTX Sells $95 Million in Mysten Labs: Hodler’s Digest, March 19-25