Black Mountain Media: Terra founder Do Kwon may be released on bail for 400,000 euros

According to the Montenegrin (Montenegro) media Pobjeda, the Montenegro court has accepted a 400,000 euro bail proposal from South Korean citizen Do Kwon. The two defendants are accused of forgery and will be released after posting bail.

Do Kwon's Wife Pays Bail: Ensures No Fleeing

The defendant, Do Kwon, explained in court that they have assets worth millions and stated that the bail will be paid by their wife.

Do Kwon also promised that once the bail amount is determined, they will not go into hiding, will regularly appear in response to court summons, and will provide the address provided by the defense attorney for easy tracking.

The prosecution objected to the proposal, stating that the amount offered does not guarantee the defendant's appearance in court and compliance with bail conditions. They also believe that the defendant has no intention of staying in Montenegro and pointed out that the conditions for implementing monitoring measures are not met.

In a statement, the Montenegro court said: "After considering the defense attorney's proposal and the prosecution's opinion, the court balanced the seriousness of the defendant's alleged crimes, the defendant's personal and family situation, their financial condition, and the financial condition of the person providing the bail. Therefore, the court believes that a bail of 400,000 euros per person may have a sufficient deterrent effect on the defendant to prevent them from fleeing. Additionally, the court also considered the need for verification of the authenticity of travel documents and identity papers allegedly issued by Belgian authorities, which also leads to uncertainty about the duration of the litigation."

In addition to bail, the court imposed measures prohibiting the defendant from leaving their residence to ensure their appearance in court and the smooth progress of the litigation. The court believes that this measure can largely replace detention, and the bail also ensures compliance with monitoring measures.

The statement emphasizes that if the defendant flees or violates the monitoring measures, the bail will be forfeited. Any dissatisfied party has the right to appeal within 3 days of the decision.