A Montenegrin court agreed to release detained Terraform Labs co-founder Do Kwon and his former chief financial officer Han Chong-joon on 400,000 euros ($436,000) in bail for each man, a move prosecutors had sought to deny.
(Bloomberg) — A Montenegrin court agreed to release detained Terraform Labs co-founder Do Kwon and his former chief financial officer Han Chong-joon on 400,000 euros ($436,000) in bail for each man, a move prosecutors had sought to deny.
The two South Korean nationals will be released into house arrest under police supervision after the bail is paid, the Basic Court in Podgorica, the capital of Montenegro, said in an emailed statement. The men appeared Thursday for their first court hearing after being arrested in March at the Podgorica airport, accused of trying to leave the country with forged travel documents.
Defense lawyer Branko Andjelic assured the court that the two men aren’t a flight risk, even offering to have their house arrest at his girlfriend’s apartment. Prosecutor Haris Sabotic objected, saying the defendants had “zero interest” in remaining in Montenegro and arguing that their financial means make the amount insufficient as a guarantee.
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