Do-hyung Kwon (32), CEO of Terraform Labs, is ready to participate in the trial in the country of repatriation and is convinced of his innocence, his Montenegro lawyer said.
According to the Montenegrin daily newspaper ‘Byesti’ on the 13th (local time), attorney Branko Angelich, who was in charge of Kwon’s local defense, said in an interview with the media the day before, that clients are only interested in the truth.
Regarding the Montenegrin court citing the bail request of CEO Kwon and his aide, Angelic, lawyer Angelich argued that it was a “simple decision” and that “the clients have no intention of fleeing.”
He added: “They are not criminals. Their clients have no interest in anything but confirmation of the truth that their passports are not forged.”
Kwon, who was arrested in Montenegro and was tried in custody, was soon released on bail.
The District Court of Podgorica, the capital of Montenegro, announced on its official website the day before that it would accept the request for bail from CEO Kwon and Mr. Han.
At the first trial on the 11th, CEO Kwon and others claimed innocence on the charge of forgery of passports and requested bail for 400,000 euros (approximately 580 million won).
Prosecutors opposed the bail, saying that the bail amount was far too small compared to their wealth and that there was a risk of escape, but the court granted the bail within a day and sided with CEO Kwon and others.
The prosecution may appeal within three days dissatisfied with this decision. Kwon will be released on bail if the bail payment of 400,000 euros is confirmed after the outcome of the appeal comes out.
However, CEO Kwon and others cannot leave the designated apartment, and if they run away or violate supervision measures, the bail money cannot be returned. Representative Kwon and others are known to be living in an apartment owned by a company with a common-law partner with attorney Angelich.
Currently, the South Korean and US investigative authorities are requesting the Montenegrin government to extradite Kwon as a criminal.
Accordingly, Kwon and others will have to stand before a court in another country after the judicial process in Montenegro is over.
“The clients are confident that they can prove their innocence in courts in other countries,” Angelich said. “The clients are ready to participate in the process.”
“Therefore, there is no need to run away and there is no need to hide,” he said.
CEO Kwon is a key figure in the collapse of the virtual currency ‘Terra Luna’, which caused more than 50 trillion won in investor damage around the world, and was caught by local police at Podgorica International Airport on March 23.
In the process of leaving the country, he was arrested and charged with forgery of official documents while trying to board a flight to Dubai, the United Arab Emirates (UAE) with a fake passport from Costa Rica. A counterfeit Belgian identity card was also found in their luggage.
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