Last Updated on November 20, 2023 by Bitfinsider
According to a judicial announcement, Do Kwon’s narrow chances of overturning his conviction for using a counterfeit passport in Montenegro earlier this year were shattered on Thursday when a judge refused his appeal.
The Higher Court of Podgorica, located in the Balkan nation’s capital, upheld a guilty verdict delivered by a lower court in June, and its decision is definitive.
He is now being held in a Montenegrin prison awaiting the outcome of extradition processes initiated by South Korean officials as well as the US Justice Department.
A US grand jury accused Kwon in March on eight counts of fraud and conspiracy for allegedly defrauding investors in Terra blockchain network tokens such as LUNA and loan offerings.
Similar claims were made against Kwon and Terraform Labs by the US Securities and Exchange Commission.
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