Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
Besides Kwon, former CFO of Terraform Labs, Han Chang-joon, also pleaded not guilty. While denying charges, the two have already offered $874,000 in total to be released on bail. Their lawyer, Branko Andjelic, has also proposed for them to be held under house arrest in his girlfriend's flat, Bloomberg reports. Prosecutor, Haris Sabotic, in turn strongly objected this offer, saying the two have shown "zero interest" in staying in Montenegro. The report notes the court in Podgorica, hasn't made the decision yet.
Kwon and Chang-joon were detained in Montenegro in March after they attempted to board a flight to Dubai using falsified documents. South Korea and the United States have requested Kwon's extradition.
Following the arrest, the US District Court in Manhattan filed an eight-count fraud indictment against Kwon. Bloomberg earlier noted that should Kwon be extradited to New York, he will be facing prosecution by the same office overseeing a criminal case against FTX Co-Founder, Sam Bankman-Fried.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange