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Montenegrin Court Adds 6 Months to Detention of Terraform Labs CEO

Written: 2023-06-16 10:08:54Updated: 2023-06-16 10:52:26

Montenegrin Court Adds 6 Months to Detention of Terraform Labs CEO

Photo : YONHAP News

A court in Montenegro has reportedly extended the detention of Terraform Labs co-founder and CEO Kwon Do-hyeong by six months as authorities consider his extradition.

According to local media on Thursday, the High Court of Montenegro ordered the extension for Kwon and his associate surnamed Han as South Korea is requesting their extradition.

The Special State Prosecutor's Office also reportedly plans to interrogate Kwon regarding his alleged relationship with high-profile local politician Milojko Spajić.

This comes after the South Korean sent a letter to multiple officials claiming that he has had a relationship with the candidate for prime minister and leader of the Europe Now party since 2018 that included financial contributions.

Prosecutors plan to summon Kwon on Friday to grill him on the potential violation of  Montenegrin laws, which prohibit foreigners from contributing to political parties or financing political campaigns.

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