Do Kwon Registers Company called “Codokoj22 d.o.o. Beograd” in Serbia Amidst Interpol Red Notice
Do Kwon, the co-founder of Terra, a blockchain ecosystem, has registered a company in Serbia just three weeks after Interpol issued a Red Notice for him in September, according to exclusive information obtained by DL News.
Kwon opened a company called “Codokoj22 d.o.o. Beograd” on October 12, with the sole ownership being listed under Do Hyuang Kwon. The address listed is in the old town of Belgrade’s city centre.
The Serbian Business Registry officials have confirmed to DL News that two South Koreans named Do Kwon and Han Chang-Joon were listed with a company number. The company is still active and was registered with the main activity of “consultancy services.”
Kwon and Chang-Joon were arrested at Podgorica Airport in Montenegro last week on a private jet bound for Dubai. They are wanted by South Korean prosecutors for fraud charges in connection with the collapse of Terra, which caused the LUNA and UST tokens to crater last year and wiped out $60 billion in market value. Kwon is also facing eight counts of fraud-related charges in the US, and authorities in Singapore, where Terra is based, are also investigating the company.
The two men are being investigated for attempting to leave the country with allegedly forged Costa Rican passports, and a Montenegrin judge has ruled that they will be detained for 30 days while the investigation takes place.
The Serbian company was established with 100 Serbian dinars in capital, which is less than a euro, and the company was registered with the Serbian Business Registry using their Korean passports. Lawyers from Gecic Law represented Kwon during the registration process, but the firm declined to comment on the case, citing confidentiality agreements.
Serbian authorities have not yet commented on the case, but South Korean prosecutors travelled to Serbia at the end of January to work together on the investigation. This joint investigation confirms that Do Kwon is still in hiding in Serbia, with the Serbian authorities not yet taking any action to extradite him.
As reported by Bloomberg, the prosecutors’ office in Seoul, South Korea announced on Monday that it is pursuing an arrest warrant against Do Kwon, co-founder of Terraform Labs, on charges of fraud and breach of duty.
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