Key Points

  • Terra Ecosystem EX-CEO Do Kwon has denied the forgery of travel documents refuting any financial ties to Europe Now Party leader Milojko Spajic.
  • Do Kwon told a Montenegro Court that he wasn’t aware that his traveling passport was fake, pinning the blame on a Chinese-named agency

Do Kwon, the former CEO of the collapsed crypto empire Terra Ecosystem has told a court in Montenegro that he is innocent of using forged documents. Kwon expressed that he was unaware of his travel documents being fake.

Do Kwon says he is innocent of forgery

Surprisingly, Terra Ecosystem Ex-CEO Do Kwon claims that he received his travel documents from third-party agencies and thus did not realize they had been faked. He said that a friend had recommended he reach out to the “agencies” to acquire a Costa Rican passport much faster.

“I received my Costa Rica passport after filling in the documents required by a Singaporean agency that was recommended to me by a friend. I received my Belgian passport through another agency.”

Kwon told the court that he had used the same traveling document for years to enter and leave Costa Rica; therefore, he did not see any issue. When asked for further details about the identity or functioning process of the “agencies” used to acquire the passport, Do Kwon said that he could not recall though the name was in Chinese.

In addition to denying the forgery of documents, Do Kwon expressed that he never made any financial donations to Montenegro’s former finance Minister Milojko Spajic who now serves as the Europe Now Party leader. Spajic also refuted the news of his ties with Do Kwon that had been spread heavily in Montenegro earlier.

Kwon now remains in extradition custody for up to six months as the local court considers the request for extradition to South Korea. Additionally, Judge Ivana Becici is set to rule on forgery claims against Do Kwon on June 19. Keep watching Fintech Express for updates on this and other Fintech-related developments.