Do Kwon, the embattled founder of Terra (LUNA), is facing yet another legal stumbling block as Montenegrin prosecutors appeal his bail conditions. This latest development comes after Kwon and his associate, Han Chang-joon, paid a large sum of money to be released on bail and placed under house arrest. However, the Montenegrin State Prosecutor’s Office has filed an appeal against this decision, seeking to overturn the court’s terms.
The case has now been transferred to the High Court of Podgorica, which will ultimately decide Kwon and Chang-joon’s fate. Kwon was apprehended at the Montenegrin airport in March while attempting to board a flight to the United Arab Emirates with a suspected forged Costa Rican passport.
In an attempt to regain their freedom, Kwon and Chang-Joon agreed to pay a large bail amount in exchange for being confined to their home until the end of their criminal proceedings. They also promised to obey court orders and always be available.
However, prosecutors expressed doubts about the effectiveness of these conditions, fearing that the defendants would flee the jurisdiction. They claimed that the bail amount offered by Kwon and Chang-joon needs to be increased to ensure their presence in Montenegro.
It should be noted that Kwon’s legal problems extend beyond Montenegro. Authorities in South Korea and the United States are also seeking his extradition for his alleged role in the Terra ecosystem’s collapse last year, which resulted in billions of dollars in losses.
As the story unfolds, it remains to be seen how Montenegrin courts will respond to the State Prosecutor’s Office’s appeal. This case’s outcome will have far-reaching consequences for Kwon and Chang-Joon, as well as for the ongoing pursuit of justice across multiple jurisdictions.
The pursuit of accountability in the Terra ecosystem collapse emphasizes the critical importance of international cooperation in combating financial crime. It serves as a reminder that no one, regardless of the prominence or the complexity of the case, is above the law.