PODGORICA, ME – In a recent development, the Montenegro court overseeing the passport forgery case involving Do Kwon, the founder of Terra, has approved his bail request of €400,000 ($428,000). This decision comes after a higher court overturned a previous approval, as announced on Friday. Kwon and former Terra executive Han Chang-joon were arrested in Montenegro in March on charges of attempting to travel with falsified documents. 

Initially, the basic court in the capital city of Podgorica had granted Kwon's bail request for the same amount. However, the prosecution appealed this decision, leading to the annulment by a higher court. The higher court determined that the first approval lacked a proper assessment of the defendants' assets supported by concrete evidence. 

Do Kwon and Han Chang-joon, both South Korean nationals, are scheduled to appear in court again on June 16. The prosecution has three days to appeal the court's decision regarding the defendants’ bail.