Montenegro Court Denies Bail for Do Kwon in Passport Fraud Case #Montenegro #PassportFraud #DoKwon #NoBail

Montenegro Court Denies Bail for Do Kwon in Passport Fraud Case #Montenegro #PassportFraud #DoKwon #NoBail

A Montenegrin high court revokes bail for Terraform Labs co-founder Do Kwon, who is charged with attempting to travel with falsified passports and faces extradition requests from the US and South Korea.

A high court in Montenegro overturned a decision to provides bail to disgraced Terraform Labs co- founder Do Kwon as he faces charges of trying 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 Montenegro’s financial resources Podgorica accepted a previous app  by Kwon’s lawyers to give him and fellow accused, Terra (LUNA) executive Han Chang-Joon, supervised bail as they face trial for trying 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 Montenegro’s financial 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.

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Reports 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.

United States and South Korea Seek Extradition of Do Kwon

Shortly after his arrest, the  United 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 country’s Financial resources Market Act, and a warrant of arrest was announced for him.  

Following investigations by numerous law enforcement agencies, the International Criminal Police Organisation, or Interpol,  announced a red notice for Kwon.

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