With its $40 billion collapse cryptocurrency Terra (LUNA) founder Do Kwon, who has caused a chain of bankruptcy in the world, has been charged with fraud by New York prosecutors.
Federal prosecutors in Manhattan charged former Terraform Labs CEO Do Kwon with fraud and conspiracy.
Terra’s founder was arrested in Montenegro, along with Terraform’s CFO, while trying to flee to Dubai with forged documents and electronic devices.
South Korean media outlet Yonhap said authorities had confirmed that the person arrested was the same person as Terra’s boss, Kwon, based on “photo data” as well as name, nationality and age on an ID card.
However, Korean police are reportedly awaiting fingerprint data from their counterparts in Montenegro to fully confirm that the person behind bars is in fact a fugitive crypto entrepreneur, citing allegations that the detainee has forged documents.
The charges include two counts each of commodity fraud, securities fraud and electronic fraud, as well as conspiracy to commit fraud. Kwon is also accused of market manipulation.
It is unclear whether the arrest of the LUNA founder was at the request of the US authorities. Kwon also has an arrest warrant for securities law violations in South Korea.
*Not investment advice.
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