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Do Kwon

Montenegro’s PM Caught In Scandal Over Terra Founder Do Kwon Deal And Meetings

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Breaking News Ticker
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a recent interview, President Jakov Milatović of Montenegro accused Prime Minister Milojko Spajić of lying about his knowledge of Do Kwon, the controversial co-founder of Terraform Labs, during a pivotal moment surrounding Kwon’s arrest in Podgorica. 

According to Milatović, Spajić claimed ignorance of Do Kwon’s identity on the day of his arrest, despite having previously engaged in a deal involving 750,000 Terra Luna tokens and allegedly meeting Kwon multiple times.

President Exposes PM’s Denial of Do Kwon Links

Milatović recounted the events of March last year during a party meeting, where he directly asked Spajić if he knew Kwon. He stated that Spajić’s denial occurred in front of several party members, including current ministers, raising questions about the Prime Minister’s transparency and credibility, especially given his role in the crypto sector.

Related Reading: Are Bitcoin (BTC) Whales Preparing for A Big Move? Key Report Sheds Light

Adding to the controversy, Milatović mentioned that Spajić had introduced him to George Cottrell, a British national facing serious charges in the United States, including money laundering and fraud. 

Milatović described Cottrell as a potential advisor for election campaigns, although he expressed disappointment with the meeting, which he felt promoted “anti-European sentiments.” 

Turning Point In Legal Saga

In light of these developments, Milatović has voiced a strong stance against Montenegro becoming a haven for criminals, urging local authorities to act decisively in cases like that of Turkish citizens Binali Čamgoz and Do Kwon. 

The president called for transparency and accountability, asserting that the country must not project a negative image internationally.

The backdrop to this unfolding drama is the recent legal decision by the Montenegrin Court of Appeal to extradite Do Kwon to South Korea, dismissing a competing extradition request from the United States. 

Related Reading: Elon Musk Reignites Public Support For Dogecoin, Triggers Price Rebound

The judge overseeing the case ruled that South Korea’s extradition request precedes the US request. The reason is that according to Montenegro’s existing extradition treaty with South Korea, which takes precedence over the agreement with the United States, the South Korean request was submitted first.

Do Kwon has been under intense legal scrutiny since the collapse of his blockchain protocol, which resulted in significant financial losses for investors. The court’s decision, announced on August 1, marks a critical point in a long legal battle that began with Kwon’s arrest at Podgorica airport in March 2023.

Do Kwon
The 1D chart shows LUNC’s price recovery. Source: LUNCUSDT on TradingView.com

At the time of writing, Terraform Labs’ native token Luna Classic (LUNC) is trading at $0.000078, recording a price recovery of 2.3% in the past 24 hours and nearly 4% in the past seven days as the crypto market stabilizes. 

In longer time frames, the token is down 11% over the past fourteen days and up 11% and 29% over the past thirty days and year-to-date, respectively. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ronaldo Marquez

Ronaldo Marquez

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Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

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