The bail request of Terra founder Do Kwon, who has been detained in Montenegro since his arrest in March and is also charged with using fake passports, has been granted again.
According to the news of Coindesk, the court has re-accepted 400,000 euros ($428,000) bail request from former Terra executive Han Chang-joon, along with Do Kwon.
The following statements were included in the statement:
"With its decision on 18 May 2023, the Podgorica High Court accepted the objection of the Podgorica Prosecutor's Office and annulled the decision of the Podgorica lower Court on 12 May 2023 that it accepted bail.
After this annulment decision, the lower court re-accepted the 400,000.00 Euro bail offer of Korean citizens Do Kwon and Han Chang-joon, who were tried for using false documents in its reassessment. The court also imposed a ban on leaving the apartment with bail.
In the re-decision process, the lower court took into account the reasons in the annulment decision and made a new decision on 02.06.2023 and gave a new decision that it accepted the bail amounting to 400,000 Euros for both defendants.
In making this decision, the lower court took into account the evidence presented by the defense attorneys regarding the defendants' financial situation, the seriousness of the crime reasonably suspected by the defendants, their personal and family circumstances, as well as their financial situation.
Against this decision, the parties have the right to appeal within 3 days.
The court also pointed out that the case required authorities in Belgium to verify the authenticity of the travel documents Kwon and Han had in their possession, and stated that the defendants could be sentenced to up to five years in prison if their authenticity could not be verified.
Terra founder Kwon and Han Chang-joon will appear in court again on June 16.
LUNC, which experienced a 35% rise after the court decision, experienced a 15% retreat today.
*Not investment advice.