Terraform Labs co-founder Do Kwon set up a company in Serbia for less than $1 just weeks after being flagged with an Interpol red notice, according to documents from the Serbian Register of Companies.
According to DL News report On March 27, citing official records, Kwon opened a company called “Codokoj22 doo Beograd” in October 2022 for $0.92 (100 Serbian dinars).
It registered its main business activity as consulting services.
Although Kwon is the sole owner of the company, Han Chang-Joon, the former CEO of Chai Corporation, was listed as a co-head.
It has also been alleged that both Kwon and Han used their Korean passports to register the company, which is reportedly still in operation, with the Serbian Register of Companies.
The report also noted that Kwon allegedly hired the Serbian law firm Gecic Law to represent him.
Ognjen Colic, a partner at Gecic Law, reportedly stated that Kwon underwent standard security checks conducted by the firm for each client, including a search of the Interpol website, in which he was not seen.
“He’s not there, you can check it yourself now.”
Cointelegraph has verified the information from Interpol website multiple times and has been unable to find any information related to Kwon, despite previous reports stating that a red notice was issued for his arrest.
Related: Terra co-founder targeted by South Korea after Do Kwon’s arrest
Last week, both Kwon and Han were arrested in Montenegro after allegedly using forged Costa Rican travel documents.
Under the Montenegrin Criminal Code, the offense carries a maximum prison sentence of three years.
A legal representative for Kwon confirmed that he will reportedly appeal the court’s decision to extend the detention time up to 30 days.
Meanwhile, US prosecutors announced on March 23 that Kwon has been charged with fraud in a New York court.
