Ex-Terraform Labs boss, Do Kwon, and his business partner, Han Chang-joon, have reportedly been released on bail set at $436,000 per person, according to a report from a local news media Pobjeda.
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The report says the defendants clarified their financial situation, indicating they have property worth several million dollars, and that the specified amount would be paid by their spouses.
Kwon and Chang-joon also promised they will not hide until the end of the criminal proceedings and will regularly respond to court summons. The move comes just a day after the two pleaded not guilty to fake travel document charges. Prosecutor, Haris Sabotic, strongly objected the deal, saying the two have shown "zero interest" in staying in Montenegro.
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.
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