The two were arrested at Podgorica Airport in late March while trying to leave the country with forged passports.
In May, they applied for bail and offered to each pay , euros and the district court granted the request. Prosecutors, however, appealed to an upper court, requesting the decision be revoked. They said the proposed bail money is substantially small compared to Kwon's overall wealth and cited concerns of the two fleeing. The upper court in Podgorica accepted the request and rescinded the bail, but the lower court again granted their release on bail, according to the latest announcement.
It said that the decision was made on the assessment that the bail money was not a small sum given their asset size. A local attorney representing Kwon and his aide have recently submitted a document showing their financial status as evidence to the district court, according to Vijesti, a Montenegrin newspaper.
The South Korean prosecution has sought the extradition of Kwon. Interpol has also issued a red notice, which is used for the highest level of wanted suspects and criminals. Kwon is also facing criminal charges in the U. TerraUSD was designed as a stablecoin, which was pegged to stable assets, such as the U.
This file photo provided by Vijesti, a Montenegrin newspaper, shows Do Kwon, co-founder of Terraform Labs, heading to a court in Podgorica, Montenegro, on May 11, Prosecutors can appeal the lower court's decision within three days. The next court hearing is set for June Related Articles Montenegrin prosecutors appeal court decision to grant bail to Terraform co-founder Montenegrin court agrees to release Terraform founder Do Kwon on bail Terraform co-founder pleads not guilty, seeks bail in Montenegro Terraform co-founder Shin indicted over Terra, Luna cryptocurrency crash Prosecution seeking to freeze assets of crypto fugitive Kwon.
