Do Kwon’s Bail Request of $428K Granted by Montenegro Court in Fake Passport Case

Renowned tech mogul Do Kwon who stands accused of fraud after the controversial collapse of the Terra empire, has been granted a $428,000 bail by the Basic Court in Podgorica, Montenegro. This decision comes as the latest development in Kwon’s high-profile case involving alleged document forgery.

Legal Tug-of-War

The earlier verdict of the Basic Court, which initially sanctioned the same bail amount for Kwon, was overturned on appeal by the Higher Court, echoing the objections of the Basic State Prosecutor’s Office. The primary contention of the Higher Court was the perceived leniency of the initial verdict.

Following the court’s directive, the case was returned to the Basic Court for reconsideration. Post-reassessment, the Basic Court decided to reinstate the original bail amount, alongside an additional surveillance order. This mandates Kwon to remain within his residence, under strict police surveillance.

A Strategic Decision

The verdict was reached after careful consideration of various factors. These included the defendants’ financial circumstances, substantiated by credible documents provided by their legal counsel. The severity of the alleged crime, personal and family conditions, and the financial state of the individuals who pledged the bail were also assessed.

Although the defendants are non-Montenegrin nationals, their assets within Montenegro were deemed substantial, thus ensuring that the forfeiture of the hefty €400,000 bail would deter them from attempting to flee.

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Future Implications and Consequences

In light of the allegations, additional procedures have been initiated to verify the authenticity of the defendants’ travel documents and identification cards, reportedly issued by the Belgian authority. As these procedures could potentially prolong the case, the substantial bail amount and house arrest have been deemed adequate to secure the defendants’ presence.

The court emphasized that if Kwon violates the terms of his bail, the bail amount will be forfeited and appropriated to the court budget. Moreover, failure to adhere to the court’s summons without a justified reason will lead to detention.