- Santa Barbara with the Terra project continues
- Do Kwon will be free again
- In addition, his bail was reduced
The court of first instance in Podgorica, Montenegro, decided to release Do Kwon and his associate Han Chang-Jun under house arrest.. The reason for this was the lawyers’ work: they provided more information about their financial situation.
Details can be read in the court’s official ruling. Themis recalled that prosecutors had previously appealed against bail to keep the defendants behind bars. But attorneys insisted that bail would not be paid from Do Kwon’s pocket (read, Terra’s defrauded clients). This amount decided to pay two women who wished to remain anonymous. And the amount of bail was reduced to 400 thousand euros (was 437 thousand)
Prosecutors have the right to appeal this decision within 3 days. If the defendants flee or violate the supervisory measure, the bail is revoked and credited to a special section of the budget.
The next trial of Kwon and Jung will take place on June 16. They were arrested at Podgorica airport on March 23 on charges of trying to leave the country with fake passports. Kwon and his friend have denied allegations of fake travel documents.
Kwon also denies all allegations against himself. He admitted that mistakes were made in the Terra-Luna project managed by Terraform Labs. But the businessman claims he never intended to deceive investors.