Do Kwon, the disgraced founder of Terraform Labs, reportedly sponsored a high-profile politician in Montenegro for several years. Kwon, who secured bail from a Montenegrin court earlier this week, allegedly contributed a significant amount of illegal cash to the election campaign of his close political ally in the Balkan nation.
According to a report by South Korea’s Yonhap News Agency, Do Kwon maintained a special relationship with one of Montenegro’s most prominent opposition political candidates. The Terra founder reportedly contributed a significant amount of funds to the candidate’s political campaign in the run-up to the upcoming election for the country’s Prime Minister.
Earlier this week, Montenegro’s Prime Minister Dritan Abazovic revealed that he had received a letter from Do Kwon wherein he claimed that he had financed Europe Now, a political party founded in June 2022 by Montenegro’s former Finance Minister Milojko Spajic. The letter indicated that Spajic was the politician that had been sponsored by the Terra founder.
In light of Kwon’s claims, Prime Minister Abazovic called on Montenegro’s Special State Prosecution to investigate the alleged business relations between the Terra founder and one of the country’s most prominent politicians. As per a report by Balkan Insight, sources within the Montenegrin government revealed that Kwon had known Spajic since 2018 and they had held meetings in Belgrade, Serbia.
Top Montenegrin politician Milan Knezevic noted:
The prosecution should inform the public about this letter. Serious doubts are being cast on the electoral process and we want to get to the end of the elections without such scandals.
Reports of Do Kwon’s relationship with a high-ranking politician in Montenegro came just a day after the Terra founder was granted bail by a local court for $400,000. The alleged relationship between the two caused particular concern in the country given that Spajic topped the latest opinion polls and could form the new government following the elections on June 11, 2023.
