Montenegro High Court Denies Do Kwon's Bail Request

A high court in Montenegro's capital Podgorica has overturned the decision to release Terraform Labs co-founder Do Kwon on bail, Bloomberg reports.

Do Kwon faced charges of attempting to travel with falsified documents in Montenegro. Previously, his lawyers proposed to pay 400,000 euros to release him on bail, which was accepted by a basic court. The prosecution then made an appeal against the decision. After the high court revoked the decision, the basic court now must make another ruling. Currently, Do Kwon is still in prison.

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