Breaking: Terra’s Do Kwon Bail Approved By Montenegro High Court, Extradition To South Korea
Terra co-founder Do Kwon and former chief financial officer Han Chang-joon’s bail request is approved by the Montenegro High Court, according to sources familiar with the court proceedings. In addition, the High Court investigation judge ruled that South Korean citizens will remain in prison for extradition to South Korea.
Do Kwon Receives Bail, But Remains in Extradition Custody
Montenegro High Court on June 15 rejected Montenegrin prosecutors’ appeal and upheld the verdict by Montenegro Basic Court Judge Ivana Becic to accept the bail of Terra co-founder Do Kwon and former CTO Han Chang-joon, confirmed court spokesperson Marija Rakovic.
Earlier this month, Montenegro Basic Court approved Do Kwon and Han Chang-joon’s bail of 400,000 Euros ($436,000) each for the second time, adding surveillance and other court measures to the bail conditions. The Basic Court sent the prosecutors’ appeal and the passport forgery case files to the Montenegro High Court for judgment.
Montenegro High Court granted bail so that they can defend themselves against charges of documents forgery. However, Do Kwon and Han Chang-joon will remain behind bars as the High Court judge ordered them to be extradited to South Korea.
The High Court investigating judge at the request of South Korea ordered the extradition detention of Do Kwon and Han Chang-joon for six months.
Also Read: Tether (USDT) Depegs After Curve-Aave Loan Saga; Spooks Crypto Market
Terra Founder Political Ties in Montenegro
CoinGape Media reported Do Kwon’s political ties with former Finance Minister Milojko Spajic since 2018. Outgoing Montenegro’s Prime Minister Dritan Abazovic claimed he received a letter from Do Kwon regarding his ties with Spajic, president of the Europe Now political party.
The former Finance Minister confirmed that his friends and the company he worked for invested in the Terra project in 2018, where he met Do Kwon. However, they lost all during the Terra-LUNA crisis, “which is why we had the special satisfaction of reporting him to authorities.” Milojko Spajic also has connections with Ethereum co-founder Vitalik Buterin.
Also Read: Binance’s BNB Chain To Announce Layer 2 Blockchain Solution
- Pi Network Update: Team Launches Faster KYC Solution Amid Rising Complaints On Token Claim Delays
- Glassnode Data Shows Bitcoin May Drop To $105.5K This Week, Here’s Why
- Co-Founder Predicts $1,000 SOL Price as Solana Treasuries Skyrocket to $4B
- REX-Osprey XRP ETF Debuts With Record $37.7M Volume as Analyst Projects Bullish Run
- MetaMask Token to Launch Sooner After mUSD Stablecoin: Consensys CEO Joe Lubin
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
