The world’s most notorious cryptocurrency criminal to be released from prison

The Court of First Instance of Montenegro granted the bail application of the co-founder of the fraudulent Terra project До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665">Do Kwonand former CFO Han Chang-joon on amended terms.

Bail in the amount of EUR 400,000 for Do Kwon and Han Chang-joon was again approved by the Court of First Instance of Montenegro, said defense lawyer Branko Angelic.

The court took into account the seriousness of the criminal offense, the personal and family circumstances of the defendants, as well as the financial situation of the persons posting bail. In addition, the court will verify the authenticity of the documents and passports, as Kwon’s lawyer argued that the Costa Rican passports were obtained legally.

The court ruled that Kwon and Jang Joon should stay in the apartment at the address provided by their lawyer Branko Angelic until the passport forgery case is completed. If the defendants abscond or violate their obligations, the court will revoke their bail, and its amount will be added to the court’s budget. The Montenegrin Prosecutor’s Office has three days to appeal this decision. If there is no appeal, the court will release the defendants on bail under new conditions.

The previous decision of the Montenegrin court of first instance to release the defendants on bail in the total amount of 800,000 euros was overturned by the highest court of Montenegro on May 24. The Montenegrin prosecutor’s office had previously appealed the court’s decision to release Do Kwon and Han Chang-joon on bail. According to the prosecutor’s office, the amount of bail is insufficient to prevent the risk of the defendants' escape.

Kwon had been hiding from Interpol for several months before being arrested at the airport in Montenegro’s capital on March 23. Law enforcement officials said that the Korean businessman tried to travel on a rented private jet with a forged passport. Kwon is facing numerous fraud charges in the United States and South Korea, all stemming from the Terra collapse last spring.