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Do Kwon: South Korean cryptocurrency boss jailed in Montenegro for forging documents
Do Kwon: South Korean cryptocurrency boss jailed in Montenegro for forging documents
Fugitive cryptocurrency chief Do Kwon, the entrepreneur sought by the US and South Korea in connection with a $40bn crash, was sentenced to four months in prison by a court in Montenegro. The 31-year-old South Korean national and Terraform Labs founder was found guilty of attempting to travel with a forged passport. He was arrested by the Montenegrin police in March as he tried to board a flight to Dubai at Podgorica Airport. Han Chang-joon, the former chief financial officer of Terraform Labs, was convicted of the same crime and handed a four-month sentence. The two were charged with forging official documents and placed in 30-day pre-trial detention. Police said they recovered doctored Costa Rican passports and a separate set of Belgian passports. Kwon and Chang-joon had pleaded not guilty at their first court hearing in May. The crypto boss reportedly told the court last week that he obtained the documents in Singapore through an agency selling citizenships of various countries and believed the passports to be genuine. Time spent in detention is included in the prison terms, and the pair can appeal the verdict, the Basic Court in Podgorica said. “Once we receive the verdict in writing, we will consult with our clients about possible appeal,” defence lawyer Goran Rodic told Bloomberg. The court has up to 30 days to officially notify the defence as well as the prosecutor’s office, the lawyer added. Both South Korea and the US have requested his extradition from Montenegro, while the courts in the country are yet to decide on those requests in separate proceedings. Kwon and five others connected to Terraform Labs are wanted due to allegations of fraud and financial crimes in relation to the implosion of its digital currencies in May 2022. The TerraUSD was designed as a “stablecoin", which are pegged to stable assets like the US dollar to prevent drastic fluctuations in prices. However, around $40bn in market value was erased for the holders of TerraUSD and its floating sister currency, Luna, after the stablecoin plunged far below its $1 peg in May. South Korea asked Interpol in September to circulate a “red notice” for Kwon across the agency’s 195 member nations to find and apprehend him. US regulators in February charged Kwon and his company Terraform Labs with “orchestrating a multi-billion dollar crypto asset securities fraud”. Read More Crackdown on firms marketing cryptoassets to be introduced by City regulator Singapore punishes state fund managers who invested in FTX Police: Crypto firm founder Do Kwon arrested in Montenegro North Korea ‘bitterly criticised’ officials for failed spy satellite launch Families in North Korea ‘starving to death’ due to lack of supplies – report MeToo: Taiwan rocked by wave of sexual harassment allegations sparked by Netflix show
1970-01-01 08:00
Wild Weather in China Poses New Threat to Country’s Grain Crops
Wild Weather in China Poses New Threat to Country’s Grain Crops
China is bracing for more extreme weather in coming days, bringing further risks to grain production across the
1970-01-01 08:00
Affirmative action, student debt rulings loom at US Supreme Court
Affirmative action, student debt rulings loom at US Supreme Court
By John Kruzel and Andrew Chung WASHINGTON The U.S. Supreme Court is expected to decide by the end
1970-01-01 08:00
Hyundai Raises 2030 Electric-Vehicle Sales Goal to 2 Million
Hyundai Raises 2030 Electric-Vehicle Sales Goal to 2 Million
Hyundai Motor Co. said it will sell 2 million electric vehicles annually by 2030, raising its forecast from
1970-01-01 08:00
United States country profile
United States country profile
Provides an overview of the United States, including key facts about this north American country.
1970-01-01 08:00
United States media guide
United States media guide
An overview of the media in the United States, including links to broadcasters and newspapers.
1970-01-01 08:00
Egypt Hikes Private-Sector Wages Again After Pound Devaluations
Egypt Hikes Private-Sector Wages Again After Pound Devaluations
Egypt hiked the minimum wage for private-sector workers for the second time in six months, as a series
1970-01-01 08:00
Malaysia Nears Southeast Asia’s First Nationwide Airbnb Control
Malaysia Nears Southeast Asia’s First Nationwide Airbnb Control
Malaysia is inching closer to becoming the first country in Southeast Asia to impose widespread curbs on short-stay
1970-01-01 08:00
Russia renews missile attacks on Ukrainian cities
Russia renews missile attacks on Ukrainian cities
A wave of attacks is reported on Kyiv and other cities but there are no reports of any injuries.
1970-01-01 08:00
Morocco media guide
Morocco media guide
An overview of the media in Morocco, including links to broadcasters and newspapers.
1970-01-01 08:00
Fox confronts Trump with lengthy list of aides he appointed – and then turned on
Fox confronts Trump with lengthy list of aides he appointed – and then turned on
A Fox News host confronted Donald Trump in a heated interview with a long list of former staffers he appointed and later went against. Mr Trump was challenged on his hiring choices during his tenure, with Fox News anchor Bret Baier reminding him of his 2016 statement that he was "going to surround myself with only the best and most serious people”. "Well, I did do that," Mr Trump responded. "That’s tremendous. Look, we had the best economy we’ve ever had, the world has ever seen." Baier then read out a long list of his former allies who are now running against him in the 2024 presidential elections. He said his former vice president Mike Pence and his former ambassador to the UN Nikki Haley are running against him while his former secretary of state Mike Pompeo is not supporting him. “You mentioned national security adviser John Bolton. He’s not supporting you either. You mentioned attorney general Bill Barr. Says you shouldn’t be president again. Calls you ‘the consummate narcissist’ and ‘troubled man.’ You recently called Barr a ‘gutless pig’,” he said as Mr Trump watched. “Your second defence secretary is not supporting you. Called you irresponsible. This week, you called your White House chief of staff John Kelly ‘weak and ineffective’ and ‘born with a very small brain.’ You called your acting White House chief of staff Mick Mulvaney a ‘born loser’,” he added. "So, why did you hire all of them in the first place?" Baier asked, after adding more references to his aides and officials. Mr Trump said he had “phenomenal people” without naming anyone and praised his administration “for defeating ISIS”. “We had phenomenal people in the military. I’m not a fan of Milley and I’m not a fan of certain of the television people. But I knocked out ISIS, I defeated ISIS. They said, Mattis, it will take three years and I don’t think we can do it. I did it in a period of like four weeks,” Mr Trump said, referring to chair of the US joint chiefs of staff Mark Milley and former defence secretary James Mattis. "There’s a lot of people who praise you for your policies," Baier responded. "I just said that." "That’s true. Well, I mean, you just went through a list. But don’t forget, for every one you say, I had 10 that love us," Mr Trump said. “Because I hired ten to one that were fantastic... We had a great economy. We had phenomenal people in charge of the economy.” Mr Trump sat down for an interview for the first time since 2018 with Fox News’s Baier, who also challenged the former president’s election fraud claims during his coverage of the 2020 elections. Read More Trump news – live: Trump denies ever having ‘Iran’ paper despite recording, as Fox confronts him over 2020 Trump reacts angrily as Fox News anchor directly tells him: ‘You lost the 2020 election’ Donald Trump Jr facing calls to be banned from Australia Ivanka and Jared split over attending Trump 2024 launch – follow live Why was Donald Trump impeached twice during his first term? Four big lies Trump told during his 2024 presidential announcement
1970-01-01 08:00
Google Seeks Suppliers to Move Some Pixel Production to India
Google Seeks Suppliers to Move Some Pixel Production to India
Alphabet Inc.’s Google is scouting for suppliers in India to assemble its Pixel smartphones as it borrows from
1970-01-01 08:00
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