Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty.
Court Grants Bail Request for Do Kwon, Puts Him Under House Detention
A first instance court in Podgorica has agreed to release the founder and former chief executive of failed blockchain firm Terraform Labs, Do Kwon, and another South Korean citizen on bail, local and foreign media reported. They are charged with attempting to use forged personal documents in the small Balkan nation.
Do Kwon, or Kwon Do-Hyung as is his full name, was arrested by Montenegrin authorities on March 23 while trying to board a flight for Dubai on a Costa Rican passport. He was detained together with a companion identified by his surname, Han. Previous reports have suggested that is the company’s Chief Financial Officer, Han Chan
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