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Do Kwon’s $437K Bail Contested By Montenegro Prosecutors
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![Naga](https://en.ethereumworldnews.com/wp-content/uploads/2022/12/cropped-IMG-6187-1-50x50.jpg"></p><p>Summary:</p><ul><li>The State Prosecutor’s Office in the capital Podgorica filed an appeal contesting Do Kwon’s bail.</li><li>A Basic Court approved a bail worth £400,000 ($437,000) for the TerraUSD creator Do Kwon and another Terraform executive Han Chang-Joon a day after their lawyers filed the request.</li><li>Authorities from South Korea and the U.S. want to extradite Kwon for trial in Terra’s $40 billion collapse saga.</li></ul><p>The bail granted to TerraUSD creator Do Kwon and his fellow Terraform Labs executive Han Chang-Joon by a Basic Court in Montenegro was contested by local prosecutors nearly a week later.</p><p>On May 12, Kwon and Han’s lawyers secured approval from the court to release the defendants a day after the request was filed. A £400,000 ($437,000) bail for each defendant was issued, allowing both suspects to leave detention after making bail and enter home arrest pending further hearings.</p><p>Less than a week later on May 17, the State Prosecutor’s Office in Podgorica appealed the court ruling.</p><p>Do Kwon and Han were arrested before they boarded a private jet bound for Dubai from Podgorica, Montenegro’s capital city. Local police said the suspects were detained with forged travel papers, as confirmed by the Interpol office in Brussels.</p><p>Montenegrin prosecutors charged Kwon and his travel companion with forgery, an offense that could attract a 5-year prison sentence if found guilty. The suspects are currently under house arrest and awaiting trial for forgery charges that they pleaded “not guilty” to.</p><h2>Do Kwon’s Multi-Jurisdiction Legal Showdown</h2><p>The former Terraform Labs CEO faces charges and prosecution from multiple governments including his home country South Korea and the U.S. where his company onboarded users.</p><p>South Korea investigators argue that its better to try Kwon in South Korea and have seized around $176 million in assets from the TerraUSD creator. If convicted in his home country, Kwon could face at least 40 years behind bars.</p><p>Criminal charges have already been filed against Do Kwon in the U.S. with an eight count indictment including fraud charges and securities violations.</p><p>Source: <a href="https://en.ethereumworldnews.com/do-kwon-bail-appealed-montenegro/" target="_blank" rel="noopener">Read Full Article</a></p><div class=)
