A request by Do Kwon, the co-founder of Terraforms Labs and the collapsed Terra-Luna ecosystem, to be released on a bail of $430,000 has received reapproval from the Basic Court of Podgorica.
The new development comes less than two weeks after a high court in Podgorica granted prosecutors’ appeal against the lower court’s decision to release Kwon as trial proceedings for his document forgery allegations are ongoing.
Kwon’s Bail Request Reapproved
According to an official statement by the Basic Court of Podgorica, the new decision considered all reasons for terminating the initial ruling. Kwon and Han Chong-Joon, his associate, will be released on $430,000 bail each and detained in an apartment to be monitored by the police.
The Basic Court passed the initial verdict in mid-May after Kwon’s defense lawyers offered to have the co-founder and his associate released from custody and detained at a provided address to periodically visit the court during trial hearings.
Prosecutors op
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