Breaking: Terra Founder Do Kwon Bail Request Approved By Montenegro Court

The Montenegro Basic Court has approved Terra co-founder Do Kwon and former chief financial officer Han Chang-joon’s bail request for the second time on Friday, according to the lawyer representing Do Kwon and Han Chang-joon.

Montenegro prosecutors now have three days to appeal against the court’s ruling.

Montenegro Court Approves Bail of Terra Founder Do Kwon

Terra co-founder Do Kwon and CTO Han Chang-joon’s bail of 400,000 Euros ($436,000) each was approved again by the Montenegro Basic Court, confirmed lawyer Branko Anđelić.

Montenegro Basic Court’s earlier decision to grant bail for defendants for a total of 800,000 Euro was revoked by a Montenegro high court on May 24. Judge Ivana Becić stated the decision to again release Do Kwon and Han Chang-joon is taken so that they can defend themselves against charges of falsifying documents.

The court ruled that both should stay in the apartment address provided by their lawyer Branko Anđelić until the end of the passport forgery case. They must comply with court summons, surveillance, and other measures taken by the court.

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.

If the defendants escape or violate imposed measures, the court will revoke their bail and the bail amount will be added to the court’s budget. Notably, Do Kwon’s extradition to either South Korea or the U.S. will only happen after he serves his sentence in Montenegro.

Also Read: Terra Classic To Reinstate Edward Kim 1.2% Burn Tax To Revive LUNC To $1

Prosecutors to Appeal Against Court Ruling

Montenegro prosecutor Haris Šabotić earlier appealed against the court decision on Do Kwon and Han Chang-joon’s bail. As per prosecutors, the bail amount is insufficient to prevent defendants from flight risk and no surveillance measures were added to the bail conditions.

The Basic Court has given three days for prosecutors to appeal against the new ruling of the court. Or else, the court will release defendants on the bail and new conditions.

Meanwhile, Do Kwon has hired world’s largest law firm Dentons to represent him in prosecution and investigation by US federal prosecutors.

Also Read: Elon Musk-Linked Robinhood Wallets Moves Over 10 Billion Dogecoin