Do Kwon, whose real name is Kwon Do Hyeong, is now in jail in Montenegro, where he was captured after hiding from the authorities for months. The court reportedly sentenced him to a four-month imprisonment.

The disgraced Korean crypto boss that co-founded Terra Labs is also wanted in the United States and in his own country of origin, South Korea. He has been on the run since last year for charges of fraud related to the sudden crash of his crypto company that created the TerraUSD stablecoin and Luna crypto. These coins rapidly lost their value in May of last year and subsequently wiped out $40 billion from the crypto market and across other related platforms and sectors.

Aside from fraud, Do Kwon is facing many other charges in connection to his failed crypto business. As per CNN Business, a court in Montenegro also sentenced another South Korean national named Han Chang Joon this week after they were found to have falsified documents.

Han is said to be a former finance officer of Terraform Labs Pte Ltd., a blockchain platform that was established by Do Kwon in 2018. They were first arrested in the country in March while they were attempting to fly to Dubai.

Upon their arrest, the authorities found two Costa Rican passports, two Belgian passports, and two IDs in their possession. Now, since they have already spent some time in jail, the 85 days they were in detention will be deducted from the four-year sentence.

The South Korean authorities have yet to charge Do Kwon and other executives of Terraform Labs. He needs to return to the country first, and apparently, this can only happen after his release from prison. Meanwhile, BBC News reported that Do Kwon may still appeal the verdict within eight days from the say he received the notification from the court.

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