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Terra co-founder Do Kwon and former chief monetary officer Han Chang-joon’s bail request is permitted by the Montenegro High Court, in keeping with sources aware of the court docket proceedings. In addition, the High Court investigation choose dominated that South Korean residents will stay in jail for extradition to South Korea.

Do Kwon Receives Bail, But Remains in Extradition Custody

Montenegro High Court on June 15 rejected Montenegrin prosecutors’ appeal and upheld the decision by Montenegro Basic Court Judge Ivana Becic to just accept the bail of Terra co-founder Do Kwon and former CTO Han Chang-joon, confirmed court docket spokesperson Marija Rakovic.

Earlier this month, Montenegro Basic Court approved Do Kwon and Han Chang-joon’s bail of 400,000 Euros ($436,000) every for the second time, including surveillance and different court docket measures to the bail circumstances. The Basic Court despatched the prosecutors’ attraction and the passport forgery case recordsdata to the Montenegro High Court for judgment.

Montenegro High Court granted bail in order that they’ll defend themselves in opposition to fees of paperwork forgery. However, Do Kwon and Han Chang-joon will stay behind bars because the High Court choose ordered them to be extradited to South Korea.

The High Court investigating choose on the request of South Korea ordered the extradition detention of Do Kwon and Han Chang-joon for six months.

Also Read: Tether (USDT) Depegs After Curve-Aave Loan Saga; Spooks Crypto Market

Terra Founder Political Ties in Montenegro

CoinGape Media reported Do Kwon’s political ties with former Finance Minister Milojko Spajic since 2018. Outgoing Montenegro’s Prime Minister Dritan Abazovic claimed he obtained a letter from Do Kwon concerning his ties with Spajic, president of the Europe Now political get together.

The former Finance Minister confirmed that his mates and the corporate he labored for invested within the Terra challenge in 2018, the place he met Do Kwon. However, they misplaced all through the Terra-LUNA disaster, “which is why we had the special satisfaction of reporting him to authorities.” Milojko Spajic additionally has connections with Ethereum co-founder Vitalik Buterin.

Also Read: Binance’s BNB Chain To Announce Layer 2 Blockchain Solution

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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his information of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the large potential of those revolutionary future applied sciences. He is presently masking all the newest updates and developments within the crypto trade.

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