Crypto founder Do Kwon indicted in US following Montenegro arrest

economictimes.indiatimes.com:

Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion or more last year, has been charged with fraud by U.S. prosecutors. An eight-count indictment against Kwon was made public in the U.S. District Court in Manhattan, several hours after news of his arrest earlier Thursday in Montenegro. Lawyers for Kwon in the United States did not immediately respond to requests for comment after business hours. Thursday's indictment charges Kwon, a South Korean national who co-founded Terraform Labs and developed the TerraUSD and Luna currencies, with two counts each of securities fraud, wire fraud, commodities fraud and conspiracy.

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The criminal case follows related U.S. Securities and Exchange Commission civil charges against Kwon and Terraform last month. Kwon had been a fugitive for several months, and South Korean authorities issued an arrest warrant for him last September. South Korean police said on Friday that the identity of the suspect arrested in Montenegro had been confirmed as Kwon after his fingerprints matched the information held by the country's National Police Agency (KNPA). «This has been shared with the Seoul Southern District Prosecutors' Office and Interpol in Montenegro,» one official at the KNPA said. Prosecutors will work with other institutions to carry out a swift repatriation, a spokesperson for the country's prosecution service said.