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- The Montenegro Basic Court has granted bail to Do Kwon and Han Chang-joon on two occasions.
- A judge from the High Court has ruled for the extradition of Do Kwon and Han Chang-joon to South Korea.
Sources familiar with the situation indicate that the Montenegro High Court has approved bail for Terra co-founder Do Kwon and former CFO Han Chang-joon. The High Court judge overseeing the investigation also decided that South Korean nationals awaiting potential extradition to South Korea would remain incarcerated.
Additionally, court spokesperson Marija Rakovic stated that on June 15, the Montenegro High Court upheld the decision made by Judge Ivana Becic of the Montenegro Basic Court to grant bail to Terra co-founder Do Kwon and former CTO Han Chang-joon.
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To Remain in Custody
This month, the Montenegro Basic Court has authorized bail for Do Kwon and Han Chang-joon twice, setting the amount at 400,000 Euros ($436,000), along with further restrictions such as monitoring and other legal measures. The case regarding passport forgery and the prosecution’s appeal have been escalated to the High Court of Montenegro.
The Montenegrin High Court granted them bail to allow for a defense against the accusations of document forgery. However, the ruling by the High Court judge to extradite Do Kwon and Han Chang-joon to South Korea indicates that they will remain in custody.
Do Kwon’s political ties with Milojko Spajic, a former finance minister, have been highlighted since 2018. Former Prime Minister of Montenegro Dritan Abazovic mentioned that he received a letter from Do Kwon regarding his relationship with Spajic, who is the president of the Europe Now party.
In 2018, both the former finance minister and his employer invested in the Terra project, where he first met Do Kwon. Unfortunately, they lost their entire investment during the Terra-LUNA crisis, “which is why we had the special satisfaction of reporting him to authorities.” Milojko Spajic is also known to have connections with Vitalik Buterin, one of the co-founders of Ethereum.
