• Terraform Labs co-founder Do Kwon is to remain in Montenegro custody for six months while the country’s courts consider an extradition request from South Korea.
• In March, the South Korean national was arrested in Montenegro over the alleged possession of falsified documents along with fellow Terra executive Han Chang-Joon.
• Kwon’s bail request was approved after a previous rejection by the same court and he is due to appear in a Montenegro court on Friday.
Do Kwon’s Arrest and Bail Request
Terraform Labs co-founder Do Kwon was arrested in Montenegro in March over the alleged possession of falsified documents along with fellow Terra executive Han Chang-Joon. The South Korean government requested his extradition, as did the U.S., and he faced possible jail time in Montenegro over the document forgery case. His bail request was initially rejected by a local court, but it was later approved. He is due to appear in a Montenegro court on Friday.
Kwon To Remain In Custody While Extradition Request Considered
Despite being granted bail, Do Kwon will remain in custody for six months while courts consider an extradition request from South Korea. This decision came from Podgorica High Court and has been confirmed by them to CoinDesk.
South Korean Government Requests Extradition
The South Korean government has requested Do Kwon’s extradition as part of their investigation into document forgery involving him and fellow Terra executive Han Chang-Joon. The U.S also requested his extradition following his arrest earlier this yearin March 2021.
Potential Jail Time In Montenegro
Do Kwon also faces potential jail time in Montenegro if found guilty of document forgery charges relating to his arrest earlier this year.. There are currently no updates on what sentence he may face should he be found guilty of these offenses, but it is expected that a decision will be made once his trial takes place on Friday 19 June 2021 at Podgorica High Court .
Terra Community AMA With Do Kwon
Do Kwon participated in an Ask Me Anything (AMA) session with members of the Terra Community back April 2021 prior to his arrest earlier this year . During this session, he discussed various topics such as new partnerships and upcoming product launches within Terraform Labs’ ecosystem .