Terra's Do Kwon reportedly faces Montenegro indictment for forgery

Montenegrin prosecutors have filed an indictment proposal for Terraform Labs co-founder Do Kwon, accusing him of forging personal documents, Bloomberg reported Thursday, citing local newspaper Vijesti. The news comes about one month after the fallen crypto star and his CFO, Han Chang-joon, got arrested by the country's police. In March, officials reportedly said that the two fugitives entered Montenegro illegally and tried to fly to Dubai using false passports. Do Kwon, who has been in hiding since the multibillion-dollar collapse of the terra ( LUNA-USD ) ( UST-USD ) ecosystem last summer, is facing criminal charges in both the U.S. and South Korea. A court in Montenegro will decide on the prosecutor's proposed indictment, Bloomberg had reported. In mid-February, the U.S. Securities and Exchange Commission charged Terraform Labs and Do Kwon for allegedly running a crypto asset securities fraud that wiped out some $40B in market value.