- The Supreme Court of Montenegro has denied Do Kwon and Han Chang-joon “house arrest.”
- The two defendants will remain in prison while their extradition proceedings are underway
- The defendants want to see both in the United States, and South Korea
- Media had earlier reported that Do Kwon would be released on bail by the trial court
The Supreme Court of Montenegro has ordered that the detention of Do Kwon and Han Chang-Joon be extended for another six months. Authorities are considering extradition requests from the U.S. and South Korea.
Agence France Presse reports. The Supreme Court confirmed the information but would not divulge the details.
According to Maria Rakovich of the court, within the allotted time, the court will decide whether to transfer Do Kwon and his business partner to South Korea or to the United States.. In Montenegro, they are accused of falsifying documents.
In the United States and South Korea, Do Kwon and Chang-jun are accused of fraud. In doing so, official Seoul has priority over Washington.
The next trial on the forgery charges will take place on June 16. How the disgraced Terraform Labs co-founder himself reacted to the court ruling is still unknown.
After the arrest of Do Kwon and his business partner in late March, the lawyers for the accused immediately filed a motion to change the measure of restraint to house arrest.
May 12 information appeared that the Terraform Labs co-founder is allegedly already at liberty. A few days later this information was denied.
Late in June, the Podgorica trial court approved the application and even lowered the bail amount.
But it appears that the decision was revised and Do Kwon will remain “behind bars.”
After the news broke that he would be released on bail, rumors swirled of a planned escape of the accused to the UAE.. There is no extradition in the Emirates, and reaching out to Terra’s co-founder in such a case would be extremely difficult.