Montenegro Court Approves €400,000 Bail for Terraform Labs Former CEO Do Kwon
A court in Montenegro has granted bail of €400,000 to Terraform Labs (TFL) CEO Do Kwon and former financial director Han Chang-joon, both of whom are accused of forgery.
The defendants revealed their financial backgrounds to the court, stating that they possess “property worth several million euros, and their wives will pay the necessary amount.”
They also promised to remain in Montenegro during the criminal proceedings, attend hearings regularly, and stay at the address they provided.
Despite these assurances, the prosecutor’s office objected to the bail amount, expressing doubt that it would guarantee their appearance in court.
Furthermore, no additional surveillance measures were imposed. On March 23, Do Kwon was arrested at Podgorica airport while attempting to board a flight to Dubai with forged documents.
