Former Terraform Labs CEO Do Kwon , alongside his compatriot and former chief financial military officer Han Chong - joon have beenon the run from international policefor month . They were arrested in Montenegro for allegedly keep back two false passports . None of that was enough to stop the Montenegrin court from offering the pair button on bail for around $ 436,000 . Now time will tell if the break crypto founder , known forflights of fancyas well as recentinternationalflights , actually stays put .
According to areleasefrom the Podgorica basic court , where the ex - Terra execs are being held , the Montenegrin court granted bail for Kwon and Chong - joon on an individual basis on Friday . The two claimed they had property deserving several million in their dwelling nation of South Korea , and that the bail would be send by their wives . The court also said it need time to verify the legitimacy of the falsified passports .
Kwon ’s attorney Branko Andjelictold the court Thursdaythe pair could last out at his girlfriend ’s apartment in the country . The two former Terra White House are now barred from leaving that apartment . According to the Podgorica canonic lawcourt , that traveling limitation is a “ substitute for hold by a considerable extent . ” The court said ground on the alleged crypto crooks “ personal and family circumstances … their attribute position , as well as the property condition of the persons who provide bond , ” the $ 436,000 bail is enough to keep them from run for … again .
Do Kwon was arrested two months ago for allegedly trying to fly to Dubai with a forged passport. He was allowed a limited release on bail set at $436,000.Photo: Risto Bozovic (AP)
Montenegrin public prosecutor had objected to their acquittance , aver the pair were an obvious flight of steps endangerment who had “ zero interest ” in stay in the rural area . The plaintiff still has three days to appeal .
The bail could be a bare fraction of the pair ’s total riches . Kwon say he owns prop in South Korea deserving about $ 3.2 million , though all hisassets in the body politic have been long - frozen by Korean self-confidence . Instead , the Securities and Exchange Commission has allegedKwon has hid thousands of bitcoin currently worth well over $ 200 millionin a Swiss depository financial institution accounting .
The bitcoin baddies were stop back in March for allegedly trying to flee to Dubai while holding counterfeit Costa Rican and Belgian Passports . Kwon in special iswanted by both the U.S. and South Korea on charges of fraudfor his role in the$40 billion crypto blowoutin May of last year . Montenegrin authorities have mentioned they may pass off Kwon to foreign police once they finish up with this current run . That is , if the man — you know , the one both Korean and U.S. prosecutors claim lie to thousands of investors across the world — actually keeps his word .
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