Terraform’s Do Kwon Wins Release on Bail From Montenegro Court
Do Kwon arrives at court in Podgorica, on May 11.
Photographer: Savo Prelevic/AFP/Getty Images
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A Montenegrin court agreed to release detained Terraform Labs co-founder Do Kwon and his former chief financial officer Han Chong-joon on 400,000 euros ($436,000) in bail for each man, a move prosecutors had sought to deny.
The two South Korean nationals will be released into house arrest under police supervision after the bail is paid, the Basic Court in Podgorica, the capital of Montenegro, said in an emailed statement. The men appeared Thursday for their first court hearing after being arrested in March at the Podgorica airport, accused of trying to leave the country with forged travel documents.