Higher Court Annuls Previous Approval of Do Kwon’s $428K Bail Request in Fake Passport Case Due to Insufficient Financial Assessment
Montenegro Court Approves Terra Founder Do Kwon’s 400,000 Euro ($428,000) Bail Request in Passport Forgery Case Following Annulment of Previous Approval by Higher Court, States Friday Announcement.
March Arrested Terra Founder Do Kwon and Ex-Executive Han Chang-joon in Montenegro for Alleged Travel with Fake Documents; Extradition Requests from South Korea and U.S. Filed After Collapse of Crypto Enterprise.
Annulment of Do Kwon’s Bail Approval in Podgorica Capital City: Higher Court Finds Initial Decision Lacking Sound Property Assessment and Concrete Evidence, Following Prosecution’s Appeal.
In its Friday statement, the basic court acknowledged that the defendants were not Montenegrin citizens. This played a role in accepting their statements regarding the value of their owned property, as they provided concrete evidence to support their claims.
According to the court, the case also involves verifying the legitimacy of the travel documents possessed by Kwon and Han in Belgium. If found guilty, they could potentially be sentenced to a maximum of five years in prison. The court disagreed with the prosecution’s viewpoint, stating that the sum of 400,000 euros cannot be considered an insignificant portion of their assets.
Also Read This Related: Terra Founder Do Kwon Granted Bail by Montenegro Court
The two South Korean individuals are scheduled to appear in court again on June 16th. The prosecution has a three-day window to challenge the bail decision.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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