"Fortunately, Montenegro made a wise decision, if it hadn't been until now, they wouldn't have been arrested."
The co-founder of Terraform Labs, Do Kwon, who allegedly defrauded the crypto market and caused the loss of $40 billion, has informed officials in Montenegro that he received VIP treatment for months while on the run.
According to Interior Minister Filip Adzic during an interview in his office in the capital Podgorica, Do Kwon and his associates did not expect to be arrested as they were used to receiving VIP treatment in several countries.
He added that Kwon and Han Chang-Joon, who is the company's chief financial officer, had entered Montenegro illegally and had previously spent time in neighboring countries, but Adzic did not specify which country they were in.
It is common knowledge that speculation regarding Kwon's whereabouts has been swirling since September when South Korean authorities issued an arrest warrant against him for violating capital market laws.
After so much time, Kwon was finally arrested last week in Montenegro, where Adzic explained that the ministry had received information suggesting that Kwon and his friend might have fled to the country anyway.
For context, South Korean authorities failed to find Kwon in Serbia last month, but on Thursday last week the two were arrested as they tried to board a flight to Dubai using false travel documents.
Now, Kwon has been detained in Montenegro and he needs to be quarantined until April 3 to prevent any possible infection of COVID-19.
