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A Montenegrin excessive courtroom in Podgorica has revoked Terraform Labs co-founder Do Kwon’s bail.
Based on a Could 24 Bloomberg report, a spokeswoman for the courtroom Marija Rakovic stated the courtroom resolution additionally impacts the corporate’s former CFO, Han Chong-Joon. Because of this Kwon and Chong-Joon would stay in jail till their trial.
Following this ruling, the decrease courtroom has to make a brand new resolution regarding Kwon’s case. Rakovic reportedly stated:
“The Fundamental courtroom ought to now make one other resolution, taking into consideration what the Excessive Court docket dominated.”
Kwon and Chong-joon have been arrested in Montenegro whereas making an attempt to fly to Dubai in March. On the time, the Montenegrin authorities claimed their Belgian and Costa Rican passports have been cast. Kwon pleaded not responsible.
On Could 12, Kwon and his CFO have been granted bail. Nevertheless, Montenegrin prosecutors opposed this ruling as a result of the defendants had the means to flee the nation and had little interest in staying behind.
Kwon faces legal costs in South Korea and the U.S. Any potential extradition to both nation would rely on the end result of the solid paperwork costs in opposition to him in Montenegro.
The submit Montenegrin courtroom revokes Do Kwon’s bail appeared first on CryptoSlate.
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