On Wednesday, Montenegrin prosecutors appealed against the decision of the Montenegrin Court to approve the bail application of Do Kwon, co-founder of Terra, and ex-financial director Han Chang-joon.
Do Kwon and Terra Latest Status
The court has ruled that Do Kwon and Han Chang-joon should remain in detention until the Montenegrin High Court makes a decision regarding the prosecutor’s appeal and the acceptance of bail conditions.
As reported by a local news agency on June 7, the Prosecutor’s Office appealed to the Montenegrin Court for the rejection of the approved bail of 400,000 euros (436,000 dollars) each for Do Kwon and Han Chang-joon.
The court will forward the prosecutor’s appeal and the case files of passport fraud to the Montenegrin High Court for a valid decision on the appeal or acceptance of Do Kwon’s bail. The court also ruled that defendants Do Kwon and Han Chang-joon should be kept in custody until the appeal processes end and a decision to release them on bail is made.
The public and media will be informed about the result of the second-degree trial via a press release on the website of the Basic Court in Podgorica.
On Friday, the Montenegrin Court confirmed the bail application of Terra co-founder Do Kwon and ex-financial director Han Chang-joon for the second time. The court announced new bail conditions to comply with court subpoenas, surveillance, and other measures taken by the court, which Montenegrin prosecutors claimed were lacking in the previous bail conditions.
The Basic Court considered the seriousness of the crime, the personal and family situations of the defendants, and the financial conditions of those who paid for the bail. In addition, the authenticity of travel documents and ID cards will be checked by the court as Do Kwon’s lawyer claimed Costa Rican passports were obtained legally.
Terra Founder’s Political Relations in Montenegro
Do Kwon has reported political connections with former Finance Minister Milojko Spajić since 2018. The former Prime Minister of Montenegro claims to have received a letter regarding Do Kwon‘s connections with Spajić, who is the president of the political party Europe Now. This situation could also affect Do Kwon’s bail.
The former Finance Minister confirmed that he had information about Do Kwon because he did business with Terra in 2018. However, he claims his friends and the company he worked for invested in the Terra project, but lost everything during the Terra-LUNA crisis.
This is why we took special pleasure in reporting him to the authorities.
The price of Terra Classic LUNC has increased by 15% in the last 24 hours, trading at 0.00097 dollars. The price of Terra (LUNA) also increased by 2% in the last 24 hours.
