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- Kwon’s legal representatives successfully requested bail from the court on May 12.
- The necessary documentation has been filed with the Podgorica High Court.
The bail approval for notable crypto figure Do Kwon and his associate Han Chang-Joon has reportedly been contested. This challenge has been initiated by the local prosecution team at the basic court of Montenegro. Kwon’s legal representatives successfully sought bail set at nearly 400k Euros (437k USD) on May 12.
The State Prosecutor’s Office in Podgorica lodged an appeal against the court’s ruling a week later, on May 17. Consequently, the necessary documentation has been submitted to the Podgorica High Court for a final determination.
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No Extradition Until Local Pending Cases Clear
Prosecution attorney Haris Sabotic opposed Kwon’s release during the bail hearing, asserting that the defendants had no intention of staying in Montenegro and were instead planning to flee. Sabotic further stated that no criteria were established to define monitoring procedures to oversee their activities.
Kwon and his co-founder are facing forgery charges in Montenegro, which, if substantiated, could result in a prison sentence of up to five years. The accused have entered a plea of “not guilty” regarding the forgery charges and are currently under house arrest pending trial, as previously reported.
In spite of extradition requests from both South Korea and the United States, Montenegrin authorities have consistently declined to release the crypto entrepreneur until all ongoing criminal matters in their jurisdiction have been settled.
As per the official statement, the Basic Court in Podgorica will issue a news release on its website to inform the public and media about the outcome of the second-instance proceedings.
