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• Terra co-founder Do Kwon and chief financial officer Han Chang-joon were arrested in Montenegro in March for using forged travel documents.
• The two defendants have argued that the Costa Rican passports they tried using were genuine.
• The prosecutor has opposed the defense counsel Branko Andjelic’s application for bail, claiming that the two suspects have the financial means to escape Montenegro and have “zero interest” in staying in the country.

Terra Co-Founder Arrested

In March of 2021, Terra co-founder Do Kwon and chief financial officer Han Chang-joon were arrested at a private jet terminal in Montenegro while attempting to board a flight to Dubai. The two were found carrying Costa Rica and Belgium passports along with South Korean passports, which Montenegrin authorities claimed were forged.

Kwon Pleads Not Guilty

Do Kwon has pleaded not guilty to using forged travel documents while detained by Montenegro. His defense team led by Branko Andjelic applied for bail on his behalf, but the prosecutor opposed this application due to Kwon’s alleged ability to escape Montenegro with his „financial means“ and lack of interest in remaining there.

Charges Facing Kwon

Kwon is already facing criminal charges related to fraud in South Korea and the United States. Any possible extradition from Montenegro would depend on the outcome of his current case there.

Legal Proceedings Moving Forward

The legal proceedings are ongoing as both defendants continue to fight their respective cases with their own defense teams. It remains unclear how long it will take before a verdict is reached or if any extradition requests will be made based on these charges or other pending cases against them.

Conclusion

The arrest of Terra co-founder Do Kwon and CFO Han Chang-joon at a private jet terminal in Montenegro is still making headlines months later as legal proceedings move forward towards an uncertain conclusion. While Kwon pleads not guilty to using forged travel documents, he also faces criminal charges related to fraud from both South Korea and the US – making it difficult to predict what will come next for him or his company going forward.