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Terra Co-founder and Former CFO Granted Bail for Second Time in Passport Forgery Case in Montenegro Court

Terra co-founder Do Kwon and former CFO Han Chang-joon have been granted bail for the second time by the Montenegro Basic Court. The court approved a bail amount of 400,000 Euros ($436,000) each and prosecutors have three days to appeal the decision. The defendants must remain in the apartment provided by their lawyer until the end of the passport forgery case and comply with court summons and surveillance measures. The court considered the seriousness of the criminal offense, personal and family circumstances of the defendants, and financial conditions of the persons paying for the bail. Terra, a South Korean blockchain firm co-founded by Do Kwon, has launched Terra Classic, a blockchain-based payment system.

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