Europe Now Movement, the political party that just won parliamentary elections in Montenegro, is expected to form a fragile government, according to a report in BalkanInsight.
The problem is the multitude of parties, with Europe Now squeaking by with just 25.6% of the vote, followed by the Democratic Party of Socialists at 23.8% and For the Future of Montenegro at 14.7%, and then everyone else.
Founder of TerraForm Labs, Do Kwon, allegedly played a role in the outcome of the elections as outgoing Prime Minister Dritan Abazovic, who led the country as part of a centrist coalition of URA and Democratic Montenegro, claimed that Kwon financed the Europe Now Movements campaign.
Kwon is the creator of TerraUSD and affiliated crypto LUNA, which failed in a spectacular fashion, becoming a significant catalyst in last year’s crypto mayhem. TerraUSD was an algorithmic stablecoin tied to the US dollar that ended up not being very stable at all. Billions of dollars in value were vaporized.
Kwon was arrested in Montenegro earlier this year and is reportedly out on bail. Other jurisdictions want to prosecute Kwon as well – including the US Securities and Exchange Commission, which has filed civil charges against Kwon. He may also face criminal prosecution in South Korea as well as the US.
As for Europe Now, it denies the allegations of receiving funds from Kwon. In an earlier report, Kwon allegedly fessed up to the claims sending a letter to the outgoing Prime Minister, outgoing Justice Minister, and the Special State Prosecution. The letter is said to have requested an investigation into the matter.
While it is not exactly clear as to if an investigation is in the works, Kwon is probably interested in avoiding any criminal prosecution or potential jail time. In any event, it should make for a good Netflix series.