Just in: Terra CEO Bail Revoked in Montenegro

Just in: Terra CEO Bail Revoked in Montenegro

Share Post:

Key Point

  • Court’s ruling to release Do Kwon into house arrest in Montenegro has been revoked

The Montenegrin court’s decision to release the CEO of Terraform Labs on bail has been revoked, Bloomberg reports, citing a statement by the court’s spokeswoman.

Following Montenegrin’s court ruling to release Kwon earlier this month, the country’s prosecutors appealed the ruling, noting that the Terraform Labs CEO may escape the country as he has no intention of staying in Montenegro, which is why Kwon will be back in custody.

“The Basic Court should now make another decision, taking into account what the High Court ruled,” Marija Rakovic, the court’s spokeswoman, told Bloomberg, per a Wednesday report.

This came about 2 weeks after the Montenegrin court granted Do Kwon and Han Chong-joon bail on a $436,000 bond.

The court’s decision to revoke Kwon’s bail also applied to Han Chong-joon, the ex-Terra Chief Financial Officer who was arrested alongside Do Kwon in March 2023 in a Montenegro airport.

Do Kwon was arrested in March while attempting to leave Montenegro with a fake passport, a crime to which he pleaded not guilty.

His arrest also came many weeks after Interpol issued a red notice on him, making him a wanted fugitive.

Currently, there is a jurisdictional battle between the South Korean prosecutors and the US on who will prosecute Do Kwon, the head of South Korean prosecutors has informed Montenegro that justice for Terra victims would best be served in Kwon’s home country; therefore, Kwon should be extradited to South Korea, instead of the US.

However, carrying out necessary analysis of a project you want to commit your funds to is quite important, you may lack the research skills or time to do that, this is one of the reasons we have the Paradise Team, each member has at least six years of experience trading cryptocurrency, therefore, with us, be sure of the ability to manage your portfolio properly. Below are the exchanges we use and what we offer:

On Binance(spot and futures), the Paradise Team focuses mainly on swing trading and whole management of portfolio.

On Kucoin, it is more daily intraday trading with and without leverage, while Bybit is for exclusive trading of BTC and ETH.

Use PRO20% for your special 20% discount today as this promo code expires soon. Click here to see reviews from happy clients.

Join the telegram channels below to enjoy free updates and analysis on BTC, ETH, and other trending altcoins. We also share our free secret insights, also free market updates.

Notify of

Inline Feedbacks
View all comments

Recent Articles

Follow Us

Start earning Profit

We aim to provide our ParadiseMembers with as much information as we can to ensure to maximize long-term profit, no matter if we are in a bullish or bearish market. We are a large scale cryptocurrency community providing you with access to some of the most exclusive life changing cryptocurrency signals, analysis, guidance and much more Trade crypto like a pro