Do Kwon’s $437K Bail Contested By Montenegro Prosecutors Summ | CCAI

Do Kwon’s $437K Bail Contested By Montenegro Prosecutors

Summary:

The State Prosecutor’s Office in the capital Podgorica filed an appeal contesting Do Kwon’s bail.A Basic Court approved a bail worth £400,000 ($437,000) for the TerraUSD creator Do Kwon and another Terraform executive Han Chang-Joon a day after their lawyers filed the request.Authorities from South Korea and the U.S. want to extradite Kwon for trial in Terra’s $40 billion collapse saga.The bail granted to TerraUSD creator Do Kwon and his fellow Terraform Labs executive Han Chang-Joon by a Basic Court in Montenegro was contested by local prosecutors nearly a week later.

On May 12, Kwon and Han’s lawyers secured approval from the court to release the defendants a day after the request was filed. A £400,000 ($437,000) bail for each defendant was issued, allowing both suspects to leave detention after making bail and enter home arrest pending further hearings.