Terra Luna Founders Freed on 400K Euro Bail
• Terra Luna founder Do Kwon and his relative Hon Chand Jun were offered bail of 400,000 euros each in Montenegro.
• The two defendants paid the full amount with their own assets and assured the court that they would not hide or flee if released on bail.
• The judge granted them release on bail, but also imposed a house arrest to ensure their presence.
Terra Luna Founder Bailed Out of Jail
The Terra Luna founder Do Kwon and his relative Hon Chand Jun have been offered 400,000 euros each for their release from jail in Montenegro. Both accepted the offer and paid the full amount with their own assets as guarantee that they will not hide or flee until the conclusion of criminal proceedings. The judge granted them release on bail as well as a house arrest to ensure their presence.
Financial Situation Explained To Court
Do Kwon and his companion explained their financial situation to the court, stating that they have assets worth several million euro which enabled them to pay the full amount of bailout required by the court. They also promised to regularly respond to court summonses and be reachable at a given address provided by their defense attorney.
Prosecutor Opposes Release On Bail
However, the representative of prosecutor’s office opposed this decision arguing that there is no guarantee that Do Kwon won’t go on run again nor are there any conditions set for supervision measures. Nevertheless, the judge ruled in favor of granting release on bail taking into account seriousness of crime charged against both defendants, personal and family circumstances as well as financial situation of persons posting bail.
House Arrest Imposed As A Condition Of Bail
In addition to granting them release on bails, a house arrest was imposed upon both defendants by the judge in order to ensure their presence during trial proceedings. This measure was intended to replace pre-trial detention while still ensuring a deterrent effect against attempting flight from Montenegro.
Verification Of Authenticity Of Documents Still Required
Moreover, it was pointed out by judge that it is still required to verify authenticity of travel documents and identity cards issued by Belgian authorities which could prolong duration of proceedings if found false or undetermined validity status.