Do Kwon, the South Korean crypto entrepreneur behind the $40bn implosion of terraUSD and luna digital tokens final 12 months, has been charged within the US with fraud, hours after he was arrested in Montenegro.

In a 12-page indictment revealed on Thursday, US prosecutors accused Kwon of defrauding crypto prospects by “deceiving these people about features of the Terra blockchain, together with its expertise and the extent to which it had been adopted by customers”.

Kwon, who faces eight prison counts together with securities, commodities and wire fraud, repeated deceptive claims in a TV interview in October 2019 in addition to in a social media submit the next 12 months, prosecutors alleged.

A lawyer for Kwon didn’t instantly reply to a request for remark.

Learn extra on Do Kwon right here.