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Former co-founder of Terraform Labs, Do Kwon, has pleaded not guilty to charges of passport fraud in Montenegro. Kwon, who also faces more serious charges in South Korea and the United States, was apprehended along with former CFO Han Chang-Joon at the Podgorica airport in March after months on the run as fugitives.
Terraform Labs (CRYPTO: LUNA) co-founder Do Kwon and former CFO Han Chong-joon have been granted conditional release by a Montenegrin court after they each posted bail of 400,000 euros (U.S.$436,000). The duo were detained in March at Podgorica Airport, accused of attempting to exit the country using counterfeit travel documents.
According to a recent report published by a Montenegrin news outlet, the co-founder of Terraform Labs, Do Kwon, is expected to be freed from prison awaiting trial following a court approval to a bail worth €400,000 ($436,000). This comes after the 31-year-old Terraform Labs CEO and its former chief financial officer, Han Chang-joon, were detained
The Montenegro court accepted the offered bail in the amount of $436,000 per person for Do Kwon and his former aide Han Chang-joon.
Bail conditions restrict Kwon from leaving his apartment in the country as the trial continues.
After his arrest in March in Montenegro, Kwon is facing trial for traveling on forged documents to the Southeastern European country.
Terraform Labs co-founder Do Kwon is reportedly set to be freed from jail pending trial after a court in Montenegro accepted a €400,000 bail.
Do Kwon, the former CEO and co-founder of Terraform Labs, is facing legal troubles in both South Korea and the U.S. for his involvement in the Terra Luna blockchain project.
Do Kwon has entered a not-guilty plea in a Montenegro court.
Attorneys representing Terraform Labs (CRYPTO: LUNA) founder Do Kwon have suggested supervised bail as an alternative to detention while he faces charges in Montenegro for attempting to travel using counterfeit documents. Kwon and Terra executive Han Chang-joon were arrested in March by Montenegrin authorities, who subsequently charged them with document forgery.
The troubled co-founder of Terraform Labs responds with a plea of not guilty to new charges, this time in relation to alleged passport fraud in Montenegro. He also faces more serious charges in the United States and his home of South Korea.
Do Kwon, co-founder of Terraform Labs, entered a not-guilty plea in a Montenegrin court on May 11. Kwon was accused of utilizing forgeries of Belgian and Costa Rican passports.
Do Kwon's lawyers asked the court to grant supervised bail conditions for both defendants – the TerraUSD founder and his colleague Han Chang-joon.Both Terraform Labs executives were arrested in Montenegro's capital of Podgorica while trying to board a private plane bound for Dubai.The court will decide on June 16 whether to allow both Kwon and Han to pay $437,000 each as bail.Governments from South Korea and the U.S. want to extradite Kwon for financial crimes in Terra's $40 billion collapse “Not guilty” TerraUSD designer Do Kwon pleaded on Thursday to travel document forgery charges issued by Montenegrin authorities after his arrest. Kwon was arrested in the country's capital city Podgorica while trying to board a private plane bound for Dubai.
The court hearing is set for late May, unexpectedly changing plans for the South Korean entrepreneur.
Terra co-founder Do Kwon has pleaded not guilty to using forged travel documents in Montenegro, where he is detained, Bloomberg reported May 11. The crypto entrepreneur was arrested by Montenegro in March while attempting to board a private jet to Dubai.
Lawyers said Do Kwon and Han Chang-joon could be released on bail and largely confined to a Montenegro apartment with the “obligation to periodically report to the state authority.”
Do Kwon, the co-founder of Terraform Labs, has entered a plea of not guilty in a Montenegrin court. He faces charges of using a counterfeit passport, an allegation made more complex by Kwon's high-profile status in the cryptocurrency industry and the recent collapse of his TerraUSD stablecoin.
Montenegrin authorities arrested the Terra founder in March for allegedly attempting to travel with fake documents.
Controversial crypto entrepreneur, Do Kwon, entered a not-guilty plea in a Montenegrin court after being arrested on an international warrant and accused of traveling with fake documents. This comes after the 31-year-old Terraform Labs CEO and its former chief financial officer, Han Chang-joon, were apprehended in March at the airport in Podgorica, the capital of
South Korea will begin the first trial for Terraform Labs co-founder Shin Hyun-seung on 26 May, in connection with the collapse of the $40 billion Terra Luna stablecoin project.
The authorities supposedly blocked Kwon's access to cryptocurrencies, luxurious cars, and real estate worth nearly $176 million.
Terraform Labs co-founder Shin Hyun-seung and seven other associates are set to face trial on May 26 over fraud charges related to the collapse of the Terra-Luna stablecoin and crypto project in May 2022.
In a recent development, South Korean legal authorities have obtained a freeze on approximately 233.3 billion Korean won (around $176 million) worth of assets owned by former Terraform Labs CEO, Do Kwon, as he faces ongoing criminal charges. The South Korean officials have taken action against Kwon by freezing his personal assets.
Seoul Southern District Court has now issued a court order that prohibits the sale of several of Do Kwon's properties.
