BREAKING: Do Kwon Was In Prison While Extraditing To Korea

Key Points:

• The Montenegro High Court granted bail to Terra co-founder Do Kwon.
• Moreover, the High Court inquiry judge decided that he would be held in jail until he was extradited to South Korea.

Terra co-founder Do Kwon and former chief financial officer Han Chang-joon’s bail request has been accepted by the Montenegro High Court.

Montenegro High Court rejected Montenegrin prosecutors’ appeal on June 15 and affirmed Montenegro High Court Judge Ivana Becic’s decision to approve bail for Terra co-founder Do Kwon and former CTO Han Chang-joon, according to court spokesman Marija Rakovic.

The High Court granted them bail in order for them to defend themselves against allegations of document fabrication. Do Kwon and Han Chang-joon, on the other hand, will stay imprisoned after a High Court judge ordered their extradition to South Korea.

At the request of South Korea, the High Court investigating judge ordered the extradition custody of Do Kwon and Han Chang-joon for six months.

Montenegrin High Court confirmed Do Kwon and Han Chang-joon’s bail of $436,000 apiece for the second time earlier this month, adding monitoring and other judicial procedures to the bail requirements. The Basic Court sent the prosecutors’ appeal and the passport forgery case to the Montenegro High Court for decision.

Do Kwon, the founder of TerraForm Labs, reportedly had an influence on the election’s result, as departing Prime Minister Dritan Abazovic, who governed the nation as part of a centrist coalition of URA and Democratic Montenegro, stated that Kwon funded the Europe Now Movements campaign.

Kwon is the founder of TerraUSD and its connected cryptocurrency LUNA, which flopped spectacularly, becoming a major driver in last year’s crypto mayhem. TerraUSD was an algorithmic stablecoin pegged to the US dollar that was not particularly stable. The worth of billions of dollars was annihilated.

Kwon was detained earlier this year in Montenegro and is apparently free on bond. Other governments are also interested in prosecuting Kwon, including the US Securities and Exchange Commission, which has brought civil accusations against him. He might face criminal charges in both South Korea and the United States.

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Harold

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