Contrary to a previous court ruling, a Montenegro court has granted bail to Do Kwon and Han Chang-Joon, his CFO. Prosecuted for using false documents, the two former “crypto entrepreneurs” will have to pay $400,000 and submit to strict supervision.
Do Kwon out on bail… again
A new twist in the case between the Montenegro authorities and Do Kwon, the founder of Luna !
While a court recently opposed to the decision to release Do Kwon and his financial director Han Chang-joon, a court finally granted the request of two defendants. Indeed, the Podgorica base court decided to release the two defendants on $400,000 bail.
The Podgorica court explained this reversal by claiming to have obtained evidence of the two defendants’ financial stability. In addition to their financial situation, the court considered that their family and personal situation made them eligible for bail. However, a strict surveillance regime was imposed on Do Kwon and Han Chang-Joon.
A Strict surveillance for Do Kwon
While granting bail to Do Kwon and his associate, the Podgorica court did not rule out the possibility that the two defendants might take advantage of the situation to flee. Let’s not forget that in addition to the proceedings for falsifying documents at Montenegro, Do Kwon is being prosecuted in the USA and South Korea for crimes related to the collapse of Terra (LUNA).
Luna founder faces up to 100 years in prison and won’t miss a chance to escape.
To this end, the court imposed strict supervision on Do Kwon and his financial manager. The two defendants will be placed in an apartment, from which they will not be allowed to leave. If this restriction is breached, the bail money will be confiscated and paid into the court budget. In addition, they are obliged to answer court summonses. In the event of unjustified absence, the accused will be returned to police custody, the court warns.
If Do Kwon is relieved to be out of prison on house arrest, he’s not out of the woods yet. He is still being prosecuted for falsifying documents in Montenegro. The USA and South Korea are still demanding his extradition. The case promises to be full of twists and turns. Follow Coinpri so you don’t miss a thing.
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