Terraform Labs (TFL) CEO Do Kwon and former chief financial officer Han Chang-jun pleaded not guilty to forgery. This is reported Bloomberg.
During a meeting in a Montenegrin court, defense lawyer Branko Angelic offered to release the defendants on bail of €400,000 ($437,000) each and place them under house arrest in his girlfriend’s apartment.
Prosecutor Haris Sabotic made a categorical objection to this motion. According to him, the defendants have enough financial resources, but “there is no interest” in staying in Montenegro.
Judge Ivana Becic did not say when she would rule on bail.
Do Kwon himself said that if he was placed under house arrest, “he would not hide and would agree to security measures.”
According to him, most of the assets he owns are in a “volatile and liquid” form, their market value is difficult to assess. He also said that he and his wife own an apartment in Seoul worth about €3 million.
Kwon expressed readiness to provide more detailed information about his assets and account numbers if the meeting is held behind closed doors, without the participation of the media.
The next hearing is scheduled for June 16th. Under Montenegrin law, the use of forged documents is punishable by imprisonment for up to five years.
Recall that in September 2022, South Korea issued an arrest warrant for Do Kwon and five other TFL employees on charges including violations of capital markets laws.
Earlier, the South Korean prosecutor leading the investigation against Do Kwon called for the extradition of TFL CEO to South Korea.
Do Kwon is also being extradited to the United States, where he has been charged with fraud by the Securities and Exchange Commission and the New York federal prosecutor’s office.
The procedure for the issuance of the TFL CEO will begin after the Montenegrin authorities complete the trial in the case of forgery. At the end of March, Kwon tried to fly from Podgorica airport to Dubai on them, but he was arrested by the local police.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Terraform Labs (TFL) CEO Do Kwon and former chief financial officer Han Chang-jun pleaded not guilty to forgery. This is reported Bloomberg.
During a meeting in a Montenegrin court, defense lawyer Branko Angelic offered to release the defendants on bail of €400,000 ($437,000) each and place them under house arrest in his girlfriend’s apartment.
Prosecutor Haris Sabotic made a categorical objection to this motion. According to him, the defendants have enough financial resources, but “there is no interest” in staying in Montenegro.
Judge Ivana Becic did not say when she would rule on bail.
Do Kwon himself said that if he was placed under house arrest, “he would not hide and would agree to security measures.”
According to him, most of the assets he owns are in a “volatile and liquid” form, their market value is difficult to assess. He also said that he and his wife own an apartment in Seoul worth about €3 million.
Kwon expressed readiness to provide more detailed information about his assets and account numbers if the meeting is held behind closed doors, without the participation of the media.
The next hearing is scheduled for June 16th. Under Montenegrin law, the use of forged documents is punishable by imprisonment for up to five years.
Recall that in September 2022, South Korea issued an arrest warrant for Do Kwon and five other TFL employees on charges including violations of capital markets laws.
Earlier, the South Korean prosecutor leading the investigation against Do Kwon called for the extradition of TFL CEO to South Korea.
Do Kwon is also being extradited to the United States, where he has been charged with fraud by the Securities and Exchange Commission and the New York federal prosecutor’s office.
The procedure for the issuance of the TFL CEO will begin after the Montenegrin authorities complete the trial in the case of forgery. At the end of March, Kwon tried to fly from Podgorica airport to Dubai on them, but he was arrested by the local police.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
