Do Kwon’s Bail Terms Accepted by Montenegro Court

Summary of the Article

• The Montenegro court accepted the offered bail of $436,000 per person for Do Kwon and his former aide Han Chang-joon.
• Kwon and Chang-Joon were arrested by Montenegrin authorities in March 2023 at Podgorica airport for allegedly using false documents.
• South Korean authorities had frozen $176 million of Kwon’s personal assets as part of the ongoing criminal proceedings.

Background Information

Savannah Fortis May 12, 2023 marked a significant moment in the legal proceedings against Terra Luna founder Do Kwon. After being charged with document forgery under Montenegrin law, local authorities granted approval to the bail terms proposed by lawyers on behalf of Kwon. The court accepted an offer of 400,000 Euros (436,000 USD) each for both Do Kwon and his former aide Han Chang-Joon. Furthermore, instead of taking them into custody, they have been put under house arrest with additional conditions such as verifying travel documents and identity cards.

Interpol Involvement

Interpol has wanted Terraform Labs co-founder Do Kwon since October 2022 when he had his passport confiscated in South Korea — his country of origin. This is due to him being part of the Terra ecosystem’s collapse which caused a loss of 40 billion USD back in May 2022 that shocked the crypto industry. The current criminal trial is scheduled to start on June 16th this year. As part of this trial, South Korean authorities have already frozen 176 million USD worth of assets belonging to Do Kwon personal accounts.

Bail Terms Accepted

Montenegro court officially announced their decision to accept the proposed bail terms offered by lawyers on behalf of Do Kwan and Han Chang-Joon on May 12th. According to official documents released from local authorities, if either party violates their house arrest agreement then their bail will be entered into “special section” within the court’s working budget . It was also noted that it would be necessary to verify authenticity regarding any travel documents or identity cards provided during this period – specifically those “allegedly” issued by Belgian competent authorities. In addition parties dissatisfied with this decision have three days to repeal any court order set forth in regards to this situation.

Conclusion

Despite despite having faced serious charges leveled against him ,Do kwan has been allowed a conditional release until further notice pending an upcoming criminal trial starting June 16th ,2023 . Although there are still many unknowns surrounding this case , it appears that we are slowly but surely getting closer toward understanding what happened during that fateful day back in may 2022 . With more updates sure to come over time , its best for everyone involved to remain patient and cautious as justice takes its course .