Montenegro High Court Denies Bail for LUNA Founder Do Kwon

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Bloomberg reported, The Montenegro High Court has overturned a previous judgment that granted bail to Do Kwon and Han Chong-joon, two individuals at the center of a high-profile legal case. Do Kwon, the primary defendant, has been accused of forging documents, while Han Chong-joon, his former chief financial officer, is implicated in the same case.

A Montenegrin court has delivered a significant blow to former crypto mogul and co-founder of Terraform Labs, Do Kwon, by rejecting his bail application. The decision to overturn the lower court’s ruling was made by the high court in Montenegro’s capital, Podgorica.

Court spokeswoman Marija Rakovic confirmed the news on Wednesday, stating that Do Kwon would remain in jail pending further legal proceedings

The denial of bail has significant implications for their legal proceedings and potential extradition efforts by both South Korea and the United States.

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