Terraform Labs' Do Kwon gets four-month jail sentence in Montenegro - report

Terraform Labs founder Do Hyeong Kwon has been sentenced to four months in jail in Montenegro after being found guilty of document forgery , CoinDesk reported. He also faces charges in the U.S. and South Korea over the collapse of stablecoin TerraUSD ( UST-USD ) and sister token Luna ( LUNA-USD ), which led to losses of at least $40B in market value. The sentence will include the time that Kwon spent in detention after being arrested in March, the report said . Two Costa Rican passports, two Belgian passports, and two identity cards belonging to Kwon and Han Chang-joon, ex-CFO of Terraform, were also confiscated. Do Kwon earlier pleaded not guilty to falsifying travel documents. Do Kwon and Chang-joon were arrested by Montenegrin police for entering the country illegally and trying to fly to Dubai using falsified passports. More on crypto crackdown: SEC versus crypto: Regulatory clarity or confusion? Crypto mogul Do Kwon denies forging personal documents SEC Is Suing Crypto Titans: Where Does This Leave Crypto? Do Kwon seeks dismissal of SEC charges as UST stablecoin is a currency