Kwon, the South Korean crypto entrepreneur behind two digital currencies who lost about $40 billion last year, was indicted on Friday by US prosecutors on fraud charges, Reuters reported.
The eight-count indictment against Kwon was unsealed in U.S. District Court in Manhattan hours after news broke of his arrest Thursday morning in Montenegro.
Kwon’s lawyers in the United States did not immediately respond to requests for comment after business hours.
The indictment filed Thursday charges Kwon, a South Korean national who co-founded Terraform Labs and developed the coins TerraUSD and Luna, with securities fraud, bank fraud, commodity fraud and conspiracy.
The criminal case follows related civil charges by the U.S. Securities and Exchange Commission against Kwon and Terraform last month.
Kwon had been on the run for several months, and South Korean authorities issued a warrant for his arrest last September.
South Korean police said on Friday that a suspect arrested in Montenegro has been confirmed as Kwon after his fingerprints matched those of the country’s National Police Administration (KNPA).
Source: Hot News
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