Prosecutors Files Appeal Against Terra’s Do Kwon Bail; Case Moves To High Court

Montenegro prosecutors on Wednesday filed an appeal against the Montenegro Basic Court’s decision to approve the bail request of Terra co-founder Do Kwon and former chief financial officer Han Chang-joon.

The court ruled that Do Kwon and Han Chang-joon will remain in custody until Montenegro’s High Court decision on the prosecutors’ appeal and acceptance of bail conditions.

Do Kwon to Remain in Custody Until Montenegro Court Decision

The Basic Prosecutor’s Office filed an appeal in the Montenegro Basic Court to reject Do Kwon and Han Chang-joon’s accepted bail of 400,000 euros ($436,000) each, a local news agency reported on June 7.

The Basic Court will forward the prosecutors’ appeal and the passport forgery case files to the Montenegro High Court to take a valid decision on the appeal or accept Do Kwon’s bail.

The court also ruled that defendants Do Kwon and Han Chang-joon will remain in custody until the end of appeal proceedings and a decision on accepting the bail.

“The public and the media will be informed about the outcome of the second-instance proceedings through a press release on the website of the Basic Court in Podgorica.”

On Friday, Montenegro Basic Court approved Terra co-founder Do Kwon and former chief financial officer Han Chang-joon’s bail request for the second time. The court announced new bail conditions to comply with court summons, surveillance, and other measures taken by the court, which the Montenegro prosecutors claim were lacking in the previous bail conditions.

The Basic Court took into account the seriousness of the criminal offense, the personal and family circumstances of the defendants, and the financial conditions of the persons paying for the bail. Also, the court will check the authenticity of travel documents and identity cards as Do Kwon’s lawyer claimed the Costa Rican passports were obtained legally.

Also Read: Here’s Why Terra Luna Classic (LUNC) Price Skyrocketed 35%, More Rally Ahead

Terra Founder Has Political Relations in Montenegro

CoinGape Media reported that Do Kwon has had political ties with former Finance Minister Milojko Spajić since 2018. Outgoing Montenegro’s Prime Minister claims he received a letter from Do Kwon regarding his ties with Spajić, president of Europe Now political party. This could also impact Do Kwon bail.

The former Finance Minister confirmed knowing about Do Kwon as he did business with Terra in 2018. However, he claims his friends and the company he worked for invested in the Terra project, but lost all during the Terra-LUNA crisis. “Which is why we had the special satisfaction of reporting him to authorities.”

Terra Classic LUNC price trades at $0.00010, up 15% in the past 24 hours. Terra (LUNA) price also jumped 2% in the last 24 hours.

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