- The Montenegro Basic Court twice authorized bail for Do Kwon and Han Chang-joon.
- The High Court judge ruled to extradite Do Kwon and Han Chang-joon to South Korea.
According to those acquainted with the case, the Montenegro High Court has granted bail to Terra co-founder Do Kwon and former CFO Han Chang-joon. The High Court judge who oversaw the probe also determined that South Korean nationals who were being held for possible extradition to South Korea would stay in jail.
Also, Court spokesman Marija Rakovic said that on June 15 the Montenegro High Court affirmed the decision of Judge Ivana Becic of the Montenegro Basic Court to approve bail for Terra co-founder Do Kwon and former CTO Han Chang-joon.
To Remain in Custody
The Montenegro Basic Court twice this month authorized bail for Do Kwon and Han Chang-joon at 400,000 Euros ($436,000), with additional restrictions including monitoring and other legal procedures. The passport forgery case and the appeal from the prosecution were sent up to the High Court of Montenegro.
They were granted bail by the Montenegrin High Court so that they could provide a defense against allegations of document fabrication. The High Court judge’s ruling to extradite Do Kwon and Han Chang-joon to South Korea means that they will stay in custody.
Do Kwon’s political alliance with Milojko Spajic, a former minister of finance, has been in the news since 2018. Former Prime Minister of Montenegro Dritan Abazovic said he had received a letter from Do Kwon about his connections to Europe Now party president Spajic.
In 2018, the former minister of finance and his employer both made investments in the Terra project, which is where he met Do Kwon. Unfortunately, they lost everything in the Terra-LUNA crisis, “which is why we had the special satisfaction of reporting him to authorities.” Milojko Spajic is also acquainted with Vitalik Buterin, one of Ethereum’s co-founders.
