News - Do Kwon's bail accepted again

By Mike Hesp

Do Kwon's bail accepted again

Scams, crime and fraud
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The Do Kwon case: a constant back and forth. After his bail was initially reviewed, a lower court has now granted it anyway.

According to a statement of a Montenegrin court, Do Kwon's request for bail has now been granted after all. According to the statement, Terra's founder would be temporarily released in exchange for 400,000 euros. The prosecutor now has three days to appeal the decision.

Bail of the same amount was already granted in early May. A short time later, however, the Supreme Court of Montenegro revoked it. The Supreme Court then stated that the basic court should make a new decision and "take into account the decision of the Supreme Court."

Kwon is expected back in court on June 16, the court said. In March, he was arrested in Montenegro and charged with attempting to leave the country with a forged passport. He faces a prison term of up to five years.

Meanwhile, the US and South Korea are arguing over a possible extradition. Both countries have filed charges of fraud and violation of the Capital Markets Act.

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