According to a report, recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia just weeks after Interpol issued a red notice for him. Lawyers who helped Kwon set up a company in Serbia reportedly said they were unaware of the Interpol Red Notice against their client.
Do Kwon uses Korean passport to register company
Just weeks after an Interpol Red Notice for the arrest was issued, former Terraform Labs CEO Kwon was still able to form and register a company in Serbia, a local publication said. Known as Codokoj22 doo Beograd, the company registered on October 12, 2022 lists Kwon as the owner. The former CEO along with his compatriot Han Chang-Joon of Chai Corporation are also appointed directors of the company.
according to a report In DL News, the duo’s Serbian company was established with capital equivalent to just under $1 (100 din). The report added that Kwon and Chang-Joon used their Korean passports to register the new company with the Serbian Register of Companies.
As previously reported by Bitcoin.com News in late September 2022, the global law enforcement agency, Interpol, launched an international manhunt for Kwon after issuing a Red Notice for the co-founder of Terraform Labs. notice, Kwon insisted that he was not on the run and was, in fact, cooperating with “any government agency that has shown an interest in reaching out.”
However, Bitcoin.com News reported on March 23, 2023 that Montenegro’s interior minister said that Kwon was arrested at the Podgorica airport. He had a forged Costa Rican passport when he was arrested. Chang Joon now has has also been reported like being arrested
Lawyers ignore Interpol red alert
Meanwhile, the report quotes anonymous officials from the Serbian Register of Companies and lawyers from the Gecic law firm as professing ignorance about the existence of an Interpol Red Notice. Ognjen Colic, a partner in Kwon’s legal representatives in Serbia, said his firm took all necessary steps before choosing to represent him.
“I cannot comment on my client due to non-disclosure agreements, but I can say that this client went through all the regular security checks we do for every client, including the Interpol website and he is not there; you can check it out for yourself now,” Colic reportedly said.
Milos Petakovic, a lawyer from the same law firm, is quoted in the report as saying he needed to consult his colleagues before commenting on the Gecic law firm’s decision to work for Kwon.
In addition to South Korea, which issued an arrest warrant for him in September 2022, authorities in Singapore and the United States were also looking for Kwon.
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