Terra founder Do Kwon’s bail request has been granted again. He has been jailed in Montenegro since his arrest in March and is also charged with using fraudulent passports.
According to Coindesk, the court has re-accepted a bail request of 400,000 euros ($428,000) from former Terra executive Han Chang-joon and Do Kwon.
The following statements were included in the statement:
“With its decision on 18 May 2023, the Podgorica High Court accepted the objection of the Podgorica Prosecutor’s Office and annulled the decision of the Podgorica lower Court on 12 May 2023 that it accepted bail.
After this annulment decision, the lower court re-accepted the 400,000.00 Euro bail offer of Korean citizens Do Kwon and Han Chang-joon, who were tried for using false documents in its reassessment. The court also imposed a ban on leaving the apartment with bail.
In the re-decision process, the lower court took into account the reasons in the annulment decision and made a new decision on 02.06.2023 and gave a new decision that it accepted the bail amounting to 400,000 Euros for both defendants.
In making this decision, the lower court took into account the evidence presented by the defense attorneys regarding the defendants’ financial situation, the seriousness of the crime reasonably suspected by the defendants, their personal and family circumstances, as well as their financial situation.
Against this decision, the parties have the right to appeal within 3 days.
The court also ruled that the case needed Belgian authorities to check the authenticity of the travel credentials Kwon and Han possessed, and that the defendants may face up to five years in prison if their authenticity could not be established.
Kwon and Han Chang-joon, the founders of Terra, will appear in court again on June 16.
LUNC, which had risen 35% following the court verdict, has dropped 15% today.