A court in Montenegro agreed on Friday to release Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, on bail of 400,000 euros ($440,320), pending a trial on local charges.
He was detained with Han Chang-joon, Terraform Labs’ former finance officer, who will also be released on bail of 400,000 euros. The pair were charged with forging official documents and a court in Podgorica ordered them to be placed in a 30-day pre-trial detention.
The two defendants will remain under house arrest and be supervised by police, the Basic court in Montenegro’s capital Podgorica said in a statement.
“The court … found that the possibility of losing the posted bail of 400,000 euros each, works sufficiently to dissuade them from any desire to flee,” the statement said.
Source: Montenegro court releases crypto entrepreneur Do Kwon on bail | Reuters