Terra Creator’s Guarantee Terms (LUNA) Do Kwon Appealed by Prosecutors: Report
Do Kwon, founder of the embattled Terra (LUNA), faces another legal stumbling block when Montenegrin prosecutors appeal the terms of his bail. This latest development comes after Kwon and his partner, Han Chang-joon, paid a large sum of money to be released on bail and placed under house arrest. However, the State Prosecutor’s Office of Montenegro has appealed against this decision, seeking to overturn the court’s provisions.
The case has now been transferred to the Podgorica High Court, which will ultimately decide Kwon and Chang-joon’s fate. Kwon was arrested at the Montenegro airport in March while trying to board a flight to the United Arab Emirates with an allegedly fake Costa Rican passport.
In an attempt to regain their freedom, Kwon and Chang-Joon agree to pay a large amount of bail in exchange for being locked up in their house until the end of their criminal proceedings. They also promise to comply with court orders and stay on hand.
However, prosecutors expressed doubts about the effectiveness of these conditions, fearing that the defendants would flee jurisdiction. They claim that the bail amount that Kwon and Chang-joon offered needs to be increased to ensure their presence in Montenegro.
It should be noted that Kwon’s legal troubles extend beyond Montenegro. Authorities in South Korea and the United States are also seeking his extradition over his alleged role in last year’s collapse of the Terra ecosystem, which resulted in billions of dollars in damages.
As the story unfolds, it remains to be seen how the Montenegrin court will respond to the State Attorney’s Office’s appeal. The outcome of this case will have far-reaching consequences for Kwon and Chang-Joon, as well as for the pursuit of justice in various jurisdictions.
The pursuit of accountability in the collapse of the Terra ecosystem emphasizes the importance of international cooperation in fighting financial crime. It serves as a reminder that no one, regardless of the prominence or complexity of the case, is above the law.