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Terraform Labs’ Do Kwon’s Bail Revoked in Montenegro Court: Bloomberg
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A court in Montenegro has repealed a lower court’s decision under which to release Terraform Labs co-founder Do Kwon on bail, according to Bloomberg News.
A court spokesperson said a high court in Montenegro’s capital overturned the earlier decision and Kwon remains in jail, Bloomberg reported.
This also applies to Terraform Labs’ former Chief Financial Officer Han Chong-joon, according to Bloomberg.The case was sent to the High Court in Podgorica, the country’s capital, earlier this week, after prosecutors appealed against the bail terms to release Kwon and Han for $436,000 each.
Kwon had been on the run for months after the demise of Terra, which was behind the algorithmic stablecoin TerraUSD that fell into a tailspin last year.
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