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Terra co-founder Do Kwon has reportedly hired world's largest law firm Dentons to help him deal with prosecution and investigation by US federal prosecutors. It's not the first time Do Kwon is represented by Dentons.
Kwon Do-hyeong (Do Kwon), founder and CEO of Terraform Labs, recently appointed a global mega-law firm in response to the prosecution and investigation by US federal prosecutors.
Terraform Labs co-founder Do Kwon will stay in detention while he faces charges of falsifying official documents in Montenegro. This comes after a request for bail was approved and later revoked.
The shady crypto entrepreneur is in for an extended stay in one of the most notorious Europe's prisons.
Kwon is currently expected to show up in court on June 16.
A high court in Montenegro overturned a decision to grant bail to disgraced Terraform Labs co-founder Do Kwon as he faces charges of attempting to travel with falsified passports. Bloomberg reports a higher court on Wednesday revoked bail previously granted to Do Kwon and a fellow defendant pending trial.
Do Kwon will stay in custody while facing allegations of fabricating official papers in Montenegro after a plea for release was allowed and then withdrawn.
Do Kwon, the co-founder of Terraform Labs, will continue to face detention in Montenegro, his bail notwithstanding. This decision arrives after a high-stakes game of legal chess, one that sees a fallen crypto titan still deep in the throes of the legal battle.
A lower court had determined the value of Kwon's property based on "statements" and not concrete evidence, a high court cited in a decision to scrap his bail approval.
Do Kwon remains in jail, and the lower court will be forced to make another decision on his bail ruling.
Do Kwon, the former head of Terraform Labs and the creator of the failed TerraUSD stablecoin, is back in custody in Montenegro after a higher court revoked his bail of 800,000 euros.
In a surprising turn of events, Terraform Labs founder Do Kwon is back in custody after a Montenegrin high court annulled a lower court's decision to allow Kwon to be released on bail.
The high court in Montenegro's capital, Podgorica, has revoked the release of the cryptocurrency and the founder of Terraform Labs, along with his former chief financial officer Han Chong-joon, following an appeal by the prosecutors in Montenegro.
The higher courts of Montenegro revoked the two Terra executive's bail after an appeal from the prosecution.
A High Court in Montenegro repealed bail terms for TerraUSD creator Do Kwon and his colleague Han Chang-Joon.Do Kwon and his former CFO Han were each granted €400,000 ($437,000) bail in a travel paper forgery case.Local prosecutors appealed the decision, arguing that Kwon and his CFO were flight risks.The decision will now return to the Basic Court which initially granted bail a day after Kwon's lawyers filed the request.Authorities in Montenegro, South Korea, and the U.S. continue to debate extradition rights. Do Kwon and his former CFO Han Chang-Joon will not be granted bail after a Montenegrin High Court overruled a previous approval for their release, per Bloomberg.
A Montenegrin high court has revoked bail for Terraform Labs co-founder Do Kwon and the former chief financial officer.
A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023.
A court in Montenegro overturned a prior ruling that granted bail to ex-crypto titan and co-founder of Terraform Labs, Do Kwon. The high court's decision, which took place in Montenegro's capital of Podgorica, meant Kwon would continue to be held in custody, Bloomberg quoted court spokeswoman Marija Rakovic as saying.
Do Kwon is facing a charge of allegedly forging a passport after trying to fly from Montenegro to Dubai.
Kwon and former chief financial officer Han Chong-joon reportedly lived in Serbia before they were caught trying to leave neighboring Montenegro using false documents.
In a surprise move, Do Kwon's bail is no longer in force. It is a huge setback for Kwon and his former CFO, Han Chong-joon, who will remain in jail.
On Wednesday, a higher court in Montenegro revoked bail of 800,000 euros ($880,640) earlier given to Do Kwon.
Less than two weeks after being granted bail and released to house arrest, Bloomberg reports that Kwon is back in custody.
Prosecution appealed a previous decision by a lower court in the country to let the disgraced founder go free while he faced trial.
