Terraform Labs’ Do Kwon’s Bail Revoked in Montenegro Court A court spokesperson said a high court in Montenegro’s capital overturned the earlier decision and Kwon remains in jail.
This also applies to Terraform Labs’ former Chief Financial Officer Han Chong-joon.
The case was sent to the High Court in Podgorica, the country’s capital, earlier this week, after prosecutors appealed against the bail terms to release Kwon and Han for $436,000 each.
Kwon had been on the run for months after the demise of Terra, which was behind the algorithmic stablecoin TerraUSD that fell into a tailspin last year.
Kwon and Chong-joon were accused of forgery by Montenegro prosecutors last month for allegedly using false passports from Belgium and Costa Rica.
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