Terraform Labs co-founder Do Kwon will remain in detention while he faces charges of falsifying official documents in Montenegro after a request for bail was approved and later revoked, according to a court statement from Thursday.
Although the Basic Court in the country's capital Podgorica had initially accepted a bail proposal from Kwon's lawyers, Bloomberg reported that a high court had annulled the decision on Wednesday.
In a statement, the Basic Court of Podgorica confirmed to CoinDesk the high court's decision, and that it had received the agreed payment of 400,000 euros ($428,000) from Kwon on May 17.
The High Court decided against the bail approval after it found the Basic Court did not sufficiently assess the the value of the defendant's property, saying the lower court could not accept the value of defendants' property "based on their statements, but only concrete evidence," that was, in this instant, not in the case files.
Following the High Court ruling, the Basic Court has decided to extend Kwon's detention.
"In the renewed proceedings, the court will proceed according to the High Court's grounds for termination and after that make a decision based on the proposal of the defense counsel for the defendants to accept bail," the court said.
Kwon, along with former Terra executive Han Chang-joon, will be due in court for their next hearing on June 16.
The U.S. and South Korea have requested Kwon's extradition from Montenegrin authorities to face criminal charges over the collapse of Terraform Labs in May last year.
Read more: Montenegro High Court Says No Bail for Terra's Do Kwon in Fake Passport Case: Bloomberg
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
暂时没有评论，赶紧抢沙发吧！