Do Kwon’s Bail Revoked; Terra Execs to Keep in Jail in Montenegro: Bloomberg

Key Takeaways

  • The upper courts of Montenegro annulled the choice of the essential court docket’s determination to launch Kwon and Chang-joon on bail.
  • The 2 Terra executives are to stay in Montenegrin jail whereas awaiting their passport fraud trial.

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12 days in the past, Do Kwon and Han Chang-joon’s bail was accepted. Now, it has been revoked by the upper courts of Montenegro.

A excessive court docket in Montenegro annulled the decrease court docket’s determination that might have allowed former crypto big and co-founder of Terraform Labs, Kwon, to be launched on bail, in accordance to Bloomberg.

The announcement got here from court docket spokeswoman, Marija Rakovic, who confirmed throughout a telephone name on Wednesday with Bloomberg, that Kwon and his former chief monetary officer, Han Chang-joon will proceed to remain in jail in Montenegro for his passport fraud case.

Each had initially been granted approval for launch on bail of $430,500, or 400,000 euros, by the Primary Court docket in Podgorica earlier this month. Nonetheless, the prosecution challenged this determination, pushing the case again to a better choose for additional consideration.

With the excessive court docket’s determination, the Primary Court docket shall be required to draft a brand new ruling that aligns with the choice made by the upper authority. Rakovic clarified that there is no such thing as a authorized limitation on the variety of motions for bail that may be filed for the 2 former Terra execs.

“The Primary court docket ought to now make one other determination, considering what the Excessive Court docket dominated,” Rakovic advised Bloomberg.

Because it stands, the way forward for each Kwon and Chang-joon stays unsure as they await the following court docket determination.

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