Do Kwon Sentenced To Prison In Montenegro After Attempting To Flee Country: Extradition Could Come Next
Portfolio Pulse from Murtuza Merchant
Terra (CRYPTO: LUNA) founder Do Kwon and executive Han Chang-Joon have been sentenced to four months in prison in Montenegro for attempting to flee the country using counterfeit passports. Kwon is wanted in the US and South Korea on fraud allegations related to Terra's $60-billion collapse in May 2022.
June 19, 2023 | 1:19 pm
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Terra founder and executive sentenced to prison, raising concerns about the future of the project and potential negative impact on LUNA's price.
The sentencing of Terra's founder and executive to prison in Montenegro raises concerns about the future of the project. With Kwon wanted in the US and South Korea on fraud allegations related to Terra's collapse, this could lead to a negative impact on LUNA's price in the short term as investors may lose confidence in the project.
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IMPORTANCE 80
RELEVANCE 100