In a recent interview, President Jakov Milatović of Montenegro leveled serious accusations against Prime Minister Milojko Spajić, alleging that the Prime Minister lied about his knowledge of Do Kwon, the controversial co-founder of Terraform Labs. This revelation comes at a crucial time as Kwon’s arrest in Podgorica has dominated headlines.
President Exposes Prime Minister’s Denial of Do Kwon Links
According to President Milatović, Prime Minister Spajić claimed ignorance of Do Kwon’s identity on the day of his arrest. However, Spajić had previously been involved in a deal involving 750,000 Terra Luna tokens and had allegedly met Kwon multiple times. These inconsistencies raise significant questions about the Prime Minister’s transparency and credibility, especially given his role in the crypto sector.
Milatović recounted the events from a party meeting in March of the previous year. He directly asked Spajić if he knew Kwon, and Spajić denied any such knowledge in front of several party members, including current ministers. This denial has now become a focal point of controversy.
Adding fuel to the fire, Milatović disclosed that Spajić had introduced him to George Cottrell, a British national facing serious charges in the United States, including money laundering and fraud. Milatović described Cottrell as a potential advisor for election campaigns, although he expressed disappointment with the meeting, which he felt promoted “anti-European sentiments.”
Turning Point In Legal Saga
The controversy surrounding Do Kwon has significant legal implications. President Milatović has been vocal in urging local authorities to take decisive action in cases involving individuals like Turkish citizens Binali Čamgoz and Do Kwon. He emphasized the importance of transparency and accountability, asserting that Montenegro must not project a negative image internationally.
The backdrop to this drama is the recent legal decision by the Montenegrin Court of Appeal to extradite Do Kwon to South Korea, dismissing a competing extradition request from the United States. The judge ruled that South Korea’s extradition request takes precedence over the US request, based on the existing extradition treaty between Montenegro and South Korea, which was submitted first.
Do Kwon has been under intense legal scrutiny since the collapse of his blockchain protocol, which resulted in significant financial losses for investors. The court’s decision, announced on August 1, marks a critical point in a long legal battle that began with Kwon’s arrest at Podgorica airport in March 2023.
Market Reactions: Luna Classic (LUNC) Price Recovery
As the legal saga unfolds, market reactions have been noteworthy. At the time of writing, Terraform Labs’ native token Luna Classic (LUNC) is trading at $0.000078, showing a price recovery of 2.3% in the past 24 hours and nearly 4% in the past seven days as the crypto market stabilizes.
In longer time frames, the token has experienced a mixed performance. It is down 11% over the past fourteen days but has shown an 11% increase over the past thirty days and a 29% rise year-to-date. These fluctuations reflect the broader volatility in the cryptocurrency market.
The developments surrounding Do Kwon and the political implications in Montenegro continue to evolve. As more information comes to light, it will be crucial to monitor both the legal proceedings and market responses.
