Do Kwon Faces Fraud Charges From US Prosecutors Hours Of Arrest

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Do Kwon

Do Kwon, the CEO of the Terraform Labs is now facing charges in South Korea, the SEC and the prosecutors of the feds in the New York.

The CEO of the Terraform Lab has been charged by the prosecutors inn New York just after getting arrested in Montenegro. In a court filing, that the US Attorney signed, Do Kwon, the entrepreneur has been charged with several different court cases, wire frauds, security frauds and conspiracy to engage and defraud in the manipulation of the market.

Under the first change the conspiracy to defraud, the prosecutors of the USA have claimed that they have the jurisdiction over the thirty-one years old CEO as he has made some misleading and false statements in his interview which was transmitted to the southern area of NYC. It was about the extent to which the blockchain got adopted by the users.

Do Kwon Faces Charges From The US Prosecutors

The rest of the four charges are related to many misleading statements about its effectiveness of the USTC stablecoin to keep its peg with the American dollars. Kwon has allegations on him for involving in some trading strategies which were created to alter the prices of USTC in the market.

The filings are coming as Filip Adzic, the minister of Montenegro which was reported on 23rd March. The suspect was trusted to be Do Kwon who was arrested in airport with his business partner as they were trying to fly to Dubai.

In a tweet the interior ministry of Montenegro said that Kwon forged travel documents from Costa Rica. As per new reports, the basic prosecution might press criminal charges soon against Do Kwon for using the forged travel documents.