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Claims by Terraform Labs’ CEO Sets off Political Scandal in Montenegro

Written: 2023-06-09 12:46:19Updated: 2023-06-09 15:19:10

Claims by Terraform Labs’ CEO Sets off Political Scandal in Montenegro

Photo : YONHAP News

Anchor: Amid his ongoing trial for document forgery in Montenegro, disgraced Terraform Labs co-founder Kwon Do-hyeong has ignited a major political scandal in the country after claiming that he funded an opposition party, whose leader he has known since 2018, in violation of local laws.
Choi You Sun reports.

Report: Days ahead of Montenegro’s parliamentary elections, prime minister Dritan Abazović appeared to expose an illicit financial connection between an opposition leader and the co-founder of Terraform Labs, Kwon Do-hyeong.

According to local media outlets, Abazović revealed the contents of a letter he claims to have received from Kwon during a press conference earlier in the week.

In the reportedly handwritten letter, Kwon allegedly claims that he has been providing illegal political funds to Milojko Spajić, the head of the Europe Now party, since they first met in 2018. The party, which launched last year, has been leading in the polls ahead of the parliamentary elections on Sunday.

Under Montenegrin law, foreigners cannot make donations to a political party or provide political funds to a campaign, and all donations must be reported to the state.

While Kwon's motive behind making such claims ahead of Montenegro's elections remains uncertain, the assertions have sparked a massive political scandal in the country amid his ongoing trial for document forgery.

Abazović called for a special prosecutor to investigate the claims, as both South Korea and the U.S. are seeking Kwon's extradition on cryptocurrency securities fraud charges.

Spajić, in his defense, acknowledged that he and his former employer had invested in Terraforms in early 2018, but denied having received any illegal political funds, while taking credit for reporting Kwon’s presence in the country to local authorities.

The prime minister claimed that no such notification was made.

Meanwhile, Filip Adžić, Montenegro's internal affairs minister, said he had received intelligence that the opposition leader had met with Kwon while he was on the run in the Serbian capital Belgrade, and that a seized laptop belonging to Kwon contains evidence of the political funds.
Choi You Sun, KBS World Radio News.

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