On Thursday, it was reported by a local news outlet, RFE, that fugitive Do Kwon, the co-founder of Terraform Labs, and his associate Han Chang-Joon will be in Montenegro custody for a duration of six months. This decision comes as the country’s courts deliberate on an extradition plea submitted by South Korea.
After a recent announcement by the high court regarding the approval of bail in a case related to document forgery, DL News confirmed the report. Notably, Kwon’s
request for bail was granted, despite being initially rejected by the very same court.
In light of a recent ruling by a higher court in Podgorica, it has been affirmed that Kwon and Han will be granted release on bail. The court has set the bail amount at €400,000 ($436,000) for each of them.
Back in March, a South Korean citizen was detained in Montenegro on charges related to the possession of counterfeit documents, alongside another Terra executive named Han Chang-Joon.
Prior to the arrest, South Korean authorities were actively seeking the individual, and following the apprehension, both South Korea and the United States lodged a request for Kown’s extradition.
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