Recently, Montenegro's political scene has been thrown into turmoil due to the "Terra Luna Collapse." At the center of this scandal is Do Kwon, and allegations of his close ties with Montenegro's current Prime Minister Miloko Spajić have drawn significant attention. In this post, we will examine the relationship between these two individuals and the resulting political fallout.
Early Investment Relationship Between Do Kwon and Prime Minister Spajić Montenegro's daily newspaper, Vijesti, highlighted suspicions about Prime Minister Spajić based on documents related to Terraform Labs submitted by the U.S. Securities and Exchange Commission (SEC) to the Southern District Court of New York. According to the SEC's Excel data, Prime Minister Spajić was one of the early investors who purchased 750,000 Luna coins in April 2018 in a personal capacity.
The documents clearly differentiate between corporate and individual investors, and it is recorded that Spajić invested with his own funds. Until now, he has claimed that the company he worked for was defrauded by Do Kwon's Terraform Labs, but the SEC's data revealed that it was his personal investment.
Criticism and Demands from Civil Groups The civil activist group URA criticized Prime Minister Spajić for not telling the truth to the public. URA pointed out that "he did not mention his personal investment but instead claimed that the company he worked for was defrauded by Do Kwon," thus revealing once again that Spajić had not been truthful with the public.
Suspicious Relationship and Political Fallout From December 2020 to April 2022, Spajić served as Finance Minister and actively supported the virtual asset industry. He even predicted that the blockchain industry could account for 30% of Montenegro's economy. However, with the revelation of his relationship with Do Kwon, many suspicions have been raised.
Particularly, the confirmation that Spajić met Do Kwon in Belgrade, Serbia in 2022 has intensified doubts about their relationship. At the time, Do Kwon was under an Interpol red notice, but Spajić claimed he was unaware of this. Civil groups and the political community have raised further suspicions about this meeting.
Prime Minister's Response and Legal Actions Andrej Milović, Minister of Justice and a close associate of Prime Minister Spajić, defended him, stating that "Spajić, like millions of others, was defrauded by Do Kwon." However, the URA civil group stated, "The SEC's data has opened a new chapter of suspicions regarding Prime Minister Spajić," and urged that he "resign immediately and that the relevant authorities thoroughly investigate these allegations."
Conclusion This scandal has exposed political and legal issues through the relationship between Do Kwon and Montenegro's Prime Minister. It is likely to have a significant impact on Montenegro's political landscape, and controversy will continue until the truth is revealed.
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