Montenegro Court Revokes Do Kwon’s Bail Following Prosecutors’ Appeal

• The ruling was made after the local prosecution team contested the bail approval.
• Do Kwon’s defense team successfully secured his release on bond on May 12.

The Montenegro High Court has recently annulled the bail of crypto entrepreneur Do Kwon and his associate Han Chang-Joon, as reported by recent sources. This ruling followed a challenge from the local prosecution team, which argued that the defendants intended to leave Montenegro for another country.

Prosecutor Haris Sabotic opposed Kwon’s release in court, asserting that there were insufficient measures to monitor the defendants’ locations while they were out on bond. Sabotic expressed concerns that the accused might disregard court summonses to evade appearing in court.

Successful Appeal Against Bail Approval

Do Kwon’s defense team managed to secure his release on bond on May 12 for approximately 400 thousand euros (437 thousand dollars). The State Prosecutor’s Office in Podgorica lodged an appeal against the court’s decision on May 17.

Montenegro authorities have charged Kwon and his co-founder with forgery, a crime that carries a penalty of up to five years in prison. The defendants remain in custody despite their plea of “not guilty,” according to this latest information.

In March, police in Montenegro detained Do Kwon at the Podgorica airport. Local authorities have not been able to verify his immigration documents, raising concerns that Kwon may have entered the country illegally or without adhering to the required entry protocols. Additionally, he was apprehended while attempting to board a private flight to Dubai with counterfeit travel documents.

Kwon is sought for extradition by two nations: South Korea and the USA. However, the Montenegrin government remains resolute in keeping the crypto entrepreneur in custody until all outstanding criminal cases in the country are resolved.