By Shivansh Tiwary (Reuters) -Shares of Ford Motor Co closed down 12.3% on Friday, after the automaker reported a wider

NEEDHAM, Mass.--(BUSINESS WIRE)--Sep 19, 2023--

Fugitive cryptocurrency chief Do Kwon, the entrepreneur sought by the US and South Korea in connection with a $40bn crash, was sentenced to four months in prison by a court in Montenegro. The 31-year-old South Korean national and Terraform Labs founder was found guilty of attempting to travel with a forged passport. He was arrested by the Montenegrin police in March as he tried to board a flight to Dubai at Podgorica Airport. Han Chang-joon, the former chief financial officer of Terraform Labs, was convicted of the same crime and handed a four-month sentence. The two were charged with forging official documents and placed in 30-day pre-trial detention. Police said they recovered doctored Costa Rican passports and a separate set of Belgian passports. Kwon and Chang-joon had pleaded not guilty at their first court hearing in May. The crypto boss reportedly told the court last week that he obtained the documents in Singapore through an agency selling citizenships of various countries and believed the passports to be genuine. Time spent in detention is included in the prison terms, and the pair can appeal the verdict, the Basic Court in Podgorica said. “Once we receive the verdict in writing, we will consult with our clients about possible appeal,” defence lawyer Goran Rodic told Bloomberg. The court has up to 30 days to officially notify the defence as well as the prosecutor’s office, the lawyer added. Both South Korea and the US have requested his extradition from Montenegro, while the courts in the country are yet to decide on those requests in separate proceedings. Kwon and five others connected to Terraform Labs are wanted due to allegations of fraud and financial crimes in relation to the implosion of its digital currencies in May 2022. The TerraUSD was designed as a “stablecoin", which are pegged to stable assets like the US dollar to prevent drastic fluctuations in prices. However, around $40bn in market value was erased for the holders of TerraUSD and its floating sister currency, Luna, after the stablecoin plunged far below its $1 peg in May. South Korea asked Interpol in September to circulate a “red notice” for Kwon across the agency’s 195 member nations to find and apprehend him. US regulators in February charged Kwon and his company Terraform Labs with “orchestrating a multi-billion dollar crypto asset securities fraud”. Read More Crackdown on firms marketing cryptoassets to be introduced by City regulator Singapore punishes state fund managers who invested in FTX Police: Crypto firm founder Do Kwon arrested in Montenegro North Korea ‘bitterly criticised’ officials for failed spy satellite launch Families in North Korea ‘starving to death’ due to lack of supplies – report MeToo: Taiwan rocked by wave of sexual harassment allegations sparked by Netflix show

The Pentagon has withheld payments of $7 million a piece on the first four F-35s upgraded by Lockheed

Thousands are getting ready to tune into CBeebies tonight (5 July) - even if they don't have kids - as Tom Hardy is back for another Bedtime Story. The actor is celebrating 75 years of the NHS with a rendition of Zog and the Flying Doctors by Julia Donaldson and Axel Scheffler. "Brilliant people like nurses and doctors can help us feel better. And many others, with exciting sounding jobs like radiographers and paramedics.", he reads in a clip shared by the channel. "So, I'm going to read you a story all about a very special team of magnificent people, and a dragon! " He's previously made a number of appearances on the segment. Sign up to our new free Indy100 weekly newsletter

Elon Musk's neurotechnology company Neuralink received approval from the Food and Drug Administration (FDA) to

A new study has revealed that black holes could be lurking much closer to Earth than anticipated. A black hole in space is when "gravity pulls so much that even light can not get out," NASA explains. "The gravity is so strong because matter has been squeezed into a tiny space. This can happen when a star is dying." Due to no light being present, they are invisible. Only special tools can pick up on them. There are said to be around 10 million to 1 billion mass black holes in the Milky Way, according to Science Alert. However, astrologers only know of about 20 of them. Now, a recent study has revealed that they could be a lot closer to Earth than previously thought after investigating the Hyades cluster, "a group of stars located 150 light-years away". In a statement, astrophysicist Stefano Torniamenti of the University of Padua explained: "Our simulations can only simultaneously match the mass and size of the Hyades if some black holes are present at the centre of the cluster today (or until recently). The Hyades with hundreds of stars is said to be approximately 625 million years old. Due to its packed environment, "higher rates of collisions and mergers" are expected. At 153 light-years away, it is considered the closest star cluster to Earth. Researchers were able to observe two or three black holes in the Hyades, which are either still present or ejected less than 150 million years ago and hovering around the outskirts. "This observation helps us understand how the presence of black holes affects the evolution of star clusters and how star clusters in turn contribute to gravitational wave sources," Professor Mark Gieles of the University of Barcelona said. Sign up for our free Indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

FREMONT, Calif.--(BUSINESS WIRE)--Sep 5, 2023--

The Belarus African Foreign Trade Association has allocated 2 million carbon credits to initiate trade in the offsets

SPARTANBURG, S.C.--(BUSINESS WIRE)--Jul 13, 2023--

A new analysis shows students across the U.S. fell further behind academically last school year despite extensive efforts to help them recover from learning setbacks tied to the COVID-19 pandemic

Adin Ross created an emotional moment during an IRL stream when he gifted a lucky fan a pair of $10,000 Nike Jordan Dior 1s at a mall