Higher Court Rejects Bail for Do Kwon and Ally A higher court in Montenegro has overturned a previous decision to grant bail in the amount of 800,000 euros to Do Kwon, a cryptocurrency entrepreneur facing charges of a multibillion-dollar fraud in the United States. The court also revoked bail for…
Last year, Montenegro witnessed the devastating burning of over 3.2 thousand hectares of forest, resulting in damages exceeding 3.2 million euros. The commander of the Nikšić Protection and Rescue Service highlights that their team of firefighters-rescuers remains vigilant as the approaching summer season brings the heightened risk of forest fires.…
A court in Montenegro has approved the release of Do Kwon, the founder of Terraform Labs, and Han Chang Jun, the CFO, on bail of €400,000 each, according to local reports from Robjeda. The court stipulated that both individuals must remain under house arrest at an address provided by their…
Outgoing Leader Proud of 25 Years in Party’s Leadership Role, but Dissatisfied with Election Results Montenegro’s outgoing President Milo Djukanovic has resigned as head of the Democratic Party of Socialists (DPS) following a landslide defeat in presidential elections.Djukanovic announced his decision on Thursday, stating that he is proud of his 25 years as the party’s leader but is not satisfied with the election results.The DPS executive committee unanimously elected Danijel…
Milatovic Triumphs with 58.88% of the Vote Jakov Milatovic, former Economic Development and Tourism Minister, has been elected as the next President of Montenegro. The Montenegro’s State Election Commission published the final results of the presidential runoff election on Thursday, revealing that Milatovic won with 58.88% of the votes. Outgoing President Milo Dukanovic Secures 41.12% Votes According to the Election Commission’s information, outgoing President Milo Dukanovic received 41.12% or 154,769…
Montenegro’s Committee on Security and Defence Head cites constitutional violation and negative impact on economy and tourism In a recent statement, Milan Knezevic, the head of the Committee on Security and Defence of the Montenegrin Parliament, dismissed the possibility of transferring frozen Russian assets in Montenegro to Ukraine. Knezevic emphasized that such a move would be a breach of the Montenegrin constitution, national laws, and European Union norms. He stated…
Montenegro is set to hold a run-off presidential election on Sunday, with long-time incumbent Milo Djukanovic facing a strong challenge from Western-educated economist Jakov Milatovic. Djukanovic, who has held the position of president or prime minister for 33 years, will be vying for a continuation of his rule, while Milatovic has promised a fresh start after a year of political deadlock. The Candidates Djukanovic, 61, has been accused by his opponents of running the country as his own fiefdom, allegations…
According to Montenegrin Justice Minister Marko Kovac, the extradition of Do Kwon, the former CEO and co-founder of Terraform Labs, is being sought by both South Korea and the United States on suspicion of being involved in an investment loss of more than $40 billion. On March 23, Do Kwon and his business partner, Hon Chang-joon, were apprehended in Montenegro as they attempted to flee to Dubai using fraudulent documentation. Kovac stated that South Korea is seeking the extradition of…
Montenegro’s President, Milo Djukanovic, stated on Tuesday that Serbia cannot handle the fact that his country is one step ahead in terms of European Union (EU) accession. The president made these comments in Bijelo Polje, ahead of the second round of presidential elections on April 2. Djukanovic said that “Serbia cannot afford the situation that Montenegro will become an EU member before Serbia. It also cannot afford Montenegro to be one step ahead in terms of higher salaries. This has…
Algeria has once again brought attention to the urgent matter of compensating victims affected by landmines planted during the era of French colonization. These landmines have caused devastating consequences, resulting in over 7,000 casualties and leaving many with permanent disabilities. The repercussions of this historical atrocity continue to be felt long after Algeria achieved independence. President of the National Association for Landmine Victims in Algeria Mohammed Jouadi reaffirmed the unwavering commitment of his organization to seek compensation from the French…
Do Kwon, the founder of Terraform Labs, a South Korean blockchain company, and his associate, Han Chang-joon, were recently apprehended by Montenegrin police at a Podgorica airport. They were allegedly attempting to flee the country to Dubai using a forged Costa Rican passport. Kwon was also found with a forged Belgian passport, according to Interpol officials in Brussels. The Interpol office in San Jose confirmed that both travel documents were fake, and authorities charged Kwon with document forgery. In addition…
Montenegro authorities have reportedly arrested a person suspected to be Do Kwon, the former CEO and co-founder of Terraform Labs, a Singapore-based cryptocurrency firm. The arrest was made at Podgorica Airport for using falsified documents, according to a statement by the Interior Ministry of Montenegro. Do Kwon and Terraform Labs were charged with a multi-billion dollar fraud by the US Securities and Exchange Commission last month, following the collapse of their ecosystem, Terra-Luna, resulting in $40 billion in losses. The…
Montenegro held its presidential election on March 20, 2023, with preliminary results showing that neither candidate received enough votes to win outright. Incumbent President Milo Djukanovic, who has been in power for 33 years, received around 35% of the votes, while his main opponent Jakov Milatovic received approximately 29%. The two candidates will now face each other in a runoff vote scheduled for April 2, according to local sources. Djukanovic, who is 61 years old, has a long and controversial…
Montenegro is preparing to hold a presidential election on Sunday, which is expected to have a significant impact on the country’s stance towards the West and its relations with neighboring Serbia, as well as the outcome of the parliamentary vote scheduled for June. With a population of just 622,359, the tiny Balkan nation has 542,154 eligible voters who can cast their ballots from 7 a.m. (0600 GMT) until 8 p.m. (1900 GMT). The incumbent pro-Western president, Milo Djukanovic, who has…
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