Crypto Mogul Do Kwon’s Bail Is Revoked in Montenegro

Do Kwon is taken to court in Podgorica, Montenegro, on March 24.Photographer: Risto Bozovic/AP
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A Montenegrin court revoked a bail application from former crypto mogul and Terraform Labs co-founder Do Kwon, keeping him in jail.

The High Court in Montenegro’s capital Podgorica overturned a lower court’s decision to release Kwon and his former chief financial officer Han Chong-joon on appeal from the prosecutors, spokeswoman for the court Marija Rakovic said by phone on Wednesday.