Do Kwon Seeking $437K Bail, Forgery Charges Dropped
PODGORICA, ME – According to a Montenegrin court hearing notice, Do Kwon and Han Chang-joon's attorneys seek supervised bail after their clients were charged with possessing forged travel documents in March.
The proposed bail amount of $437,000 for each defendant reflects the gravity of the situation and aims to guarantee their presence during future court proceedings. The defendants strongly deny the charges of possessing forged documents. If bail is admitted, Kwon and Chang-joon will be confined to house arrest and must report to a local authority periodically.
The court is currently reviewing the bail proposal, and the trial is scheduled for June 16. However, even if the Montenegrin case is resolved, Do Kwon still faces pending criminal charges in the U.S. and South Korea related to the collapse of his cryptocurrency enterprise, Terraform Labs, which resulted in a staggering $40 bill loss in May 2022.
