in prosecutors montenegro appealed against the bail conditions of Terra / Luna co founder do quon and Chief Financial Officer Han Chang-joon.
on wednesday state prosecutor’s office In Podgorica, the capital of the country, filed An official appeal against the decision made by the court on 12 May Grant Quan and Han were released from custody on €400,000 ($436,000) bail.
Instead of taking them into custody, they were put under house arrest. They are required to be available at all times and respond to court summons regularly.
“The case was referred to the High Court in Podgorica for a decision on appeal,” the press release said.
It added that the public will be informed of the outcome of the proceedings once they are available.
At the time of writing, there were no related announcements Published by Podgorica court after appeal.
Quan and Han were charged by Montenegro prosecutors last month with forgery for allegedly using false passports from Belgium and Costa Rica. Using forged documents is punishable by up to five years in prison.
of both pleaded not guilty,
wanted on three continents
Montenegro not the only country targeting Quan, Han and other officials Terraform Labs (the company behind Terra). in the courts South Korea, SingaporeAnd this We Everyone is behind them too.
United States Securities and Exchange Commission ,seconds) accused Quan and others of knowingly trading in unregistered securities.
South Korean prosecutors are also hopeful of bringing Kwon to trial on similar charges.
But Terra’s legal team hit out at the SEC, claim of that its allegations were baseless and that the Terra stablecoins were “currencies,” meaning that the SEC had no jurisdiction over Terra.
So the lawyers filed a petition to quash the charges.
still caching
last week, it was informed of Kwon cashed in $2.8 million worth of cryptocurrency before being released on bail in Montenegro.
Several sources claimed a value of approximately $500,000. Tether (USDT) was withdrawn from a wallet that is widely believed to have belonged to Kwon approximately seven days earlier. Additionally, approximately 2.39 million Terra Luna Classic (LUNC) coins were withdrawn, also from a Coin-linked wallet.
Podgorica court documents It is further shown that both Kwon and Han claimed to have assets in South Korea.
That said, South Korean prosecutors consider all of Kwon’s funds to be proceeds of crime. However, they claimed that they failed to freeze all the crypto funds of the CEO.
Seoul is still hopeful of convincing Montenegrin authorities to deport Quan to his native country to face fraud charges.
Meanwhile, in late April, the Seoul Southern District Prosecutor’s Office indictment Ten people, including Terra co-founder Daniel Shin, face multiple charges including capital market law violations related to the failed Terra/Luna project.
However, Shin’s lawyers said that their client left TerraForm Labs in 2020 and was, therefore, not involved in the 2022 Terra crash.
,
learn more:
, Terraform Labs co-founder and CFO Do Kwon charged with fraud by Montenegro prosecutors
, Terra co-founder ten formally charged in South Korea after month-long investigation – $185 million worth of assets frozen
, New Report: Terra Founder Do Kwon Sent Millions of Dollars to Law Firm Before Terra’s Collapse — Here’s What You Need to Know
, Lawyers unsure about fate of Do Kwon’s ‘missing $37B’ – will investors ever get their money back?
, Jump Trading Allegedly Backed Terra Before Its Collapse, New SEC Filing Shows
, How to store cryptocurrency securely