- The hearing on this case was held in Podgorica on May 11
- The court will make a decision on June 16
- Do Kwon himself does not consider himself guilty of forging documents
- If the court decides otherwise, he faces up to 5 years in prison only in Montenegro
- He has also been charged in the United States and South Korea.
In March, Terra co-founder Do Kwon was arrested in Montenegro for trying to leave the country with forged documents. He pleads not guilty and asks to be released on bail.
Yesterday, May 11, in Podgorica took place the first hearing in this case. Lawyers for Do Kwon and Han Chang-jun filed a motion to release their clients on bail with a ban on leaving the apartment.
Recall that at the time of his arrest, only Do Kwon had three different passports with him. If found guilty of forging documents, they face three months to five years in prison.
The defense offered to deposit 400,000 won ($437,000) each as bail. The court will review the appeal and make a final decision at a later date. The date of the next meeting is June 16.
In addition to the forgery of documents, a whole galaxy of other charges were brought against Do Kwon. He will be gladly “accepted” both in the USA and in South Korea, where more than one criminal case has been opened against the ex-head of Terraform Labs.
Given the severity of these crimes, as well as the circumstances of his detention, Do Kwon’s chances of getting bail are rather low. He was arrested when he tried to board a plane to the UAE, where there is no extradition.
