Montenegro prosecutors have charged Terra co-founder Do Kwon and chief financial officer Han Chang-joon with falsifying documents. Both Do Kwon and Han Chang-joon were arrested on March 23 by Montenegrin authorities while attempting to board a flight to Dubai using false passports and documents.

The state prosecutor’s office has filed charges against Do Kwon and Han Chang-joon for the crime of document forgery. Prosecutors also proposed to further extend the detention period for both suspects, local news agency Vijesti reported on April 20.

The Montenegrin lawyer representing Do Kwon and Han Chang-joon has previously appealed the court’s decision to extend the detention to 30 days. However, the court rejected the appeal, citing the importance of the case. A further extension of the detention period will further delay the extradition procedure. The extradition process will only start after the legal proceedings of the court in Montenegro regarding passport forgery have been completed.

On March 29, Montenegro’s Justice Minister Marko Kovac stated that the extradition decision will be made in a separate court proceeding following the passport forgery. Moreover, extradition depends on several factors, including the seriousness of the crimes, the place of the crimes committed, the order of the requests and nationality.

Meanwhile, South Korean prosecutors sought a second arrest warrant against co-founder Daniel Shin. However, the court rejected prosecutors’ request for an arrest warrant, citing no risk of flight or destruction of evidence.

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Terra (LUNA) and Terra Classic (LUNC) Price drop after Do Kwon is sued

The price of Terra (LUNA) is down 1% in the last 24 hours and the price is currently trading at $1.31. The 24-hour low and high are at $1.26 and $1.34, respectively.

Meanwhile, the price of Terra Classic (LUNC) fell more than 2% in the past 24 hours to $0.000117, breaking the key support level of $0.00012. The 24-hour low and high are $0.000114 and $0.000120, respectively.

Also Read: Tornado Cash developer is released, TORN price skyrockets by 20%

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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