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Bail Revoked For Do Kwon After Prosecutors In Montenegro Appeal: Report | Old North State Wealth News
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Bail revoked for Do Kwon after prosecutors in Montenegro appeal: Report

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Terraform Labs co-founder Do Kwon and former chief financial officer Han Chong-joon will not be released on bail in Montenegro after prosecutors appealed the decision, Bloomberg reported on May 24. The pair were arrested in March after trying to leave the country using falsified documents.

The fugitive crypto executives were granted release to house arrest on 400,000 euros ($435,000) bail each by the Basic Court in the Montenegrin capital Podgorica on May 12. The bail terms were proposed by their defense team. Prosecutors appealed the ruling to the High Court the following week.

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