A high court in Montenegro overturned a decision to provides bail to disgraced Terraform Labs co- founder Do Kwon as he faces charges of tryingย to travel with falsified passports.
Bloomberg reports a higher court on Wednesday revoked bail previously granted to Do Kwon and a fellow defendant pending trial.
The Basic Court of Montenegroโs financialย resources Podgorica accepted a previous appย by Kwonโs lawyers to give him and fellow accused, Terraย (LUNA) executive Han Chang-Joon, supervised bail as they face trial for tryingย to travel with falsified documents.
Kwon and Chang-Joon were set to be released on supervised bail with a payment of 400,000 euros each.
Kwon Arrested in Montenegro
The duo were detained at the airport of Montenegroโs financialย resources Podgorica March 23 as they tried to board a flight to Dubai with falsified travel documents. Reuters informed Kwon and Joon had doctored Costa Rican passports, a Second set of Belgian passports, laptops, and other devices.
Reportsย by Reuters, Kwon and Chang-Joon were charged with forging official documents and were ordered to a 30-day pre-trial detention.
Following their arrest, a court deemed both a flight danger and scheduled them for trial on May 11.
Unitedย States and South Korea Seek Extradition of Do Kwon
Shortly after his arrest, theย Unitedย States and South Korean authorities announced that they were seeking the extradition of Kwon. Kwon is a South Korean national charged in September with violating the countryโs Financialย resources Market Act, and a warrant of arrest was announced for him. ย
Following investigations by numerous law enforcement agencies, the International Criminal Police Organisation, or Interpol,ย announced a red noticeย for Kwon.
