Do Kwon Registered Company in Serbia Despite an Interpol Red Notice
The recently arrested Terraform Labs co-founder and CEO, Do Kwon, managed to register a company in Serbia weeks after Interpol issued a Red Notice. Lawyers who helped Kwon form a new company in Serbia reportedly said that they were not aware of the Interpol Red Notice against their client.
Do Kwon Used His Korean Passport to Register the New Company
The
former Terraform Labs co-founder and CEO, Kwon, managed to register a new
company in Serbia weeks after an Interpol Red Notice was issued for his arrest. A Serbian media publication has reported that the company named Codokoj22 d.o.o.
Beograd was registered on October 12, 2022, and lists Do Kwon as the owner. Do
Kwon and his countryman Han Chang-Joon from Chai Corporation have been named as
directors of the company.
The
report has revealed that Kwon and Chang-Joon used their Korean passports to
register the new company with the Serbian Business Registry. The Serbian
company was established with a capital of less than USD 1 (100 dins), according
to the DL News report.
The
global law enforcement agency Interpol kicked off an international manhunt for
Kwon in late September 2022, after issuing a Red Notice for the Terraform Labs
co-founder. Before the notice was issued, Kwon insisted that he was not on the
run and that he was cooperating with "any government agency that has shown
interest in communicating."
The
Interior Minister of Montenegro, Filip Adzic, announced on Twitter that Kwon
was arrested at Podgorica airport on March 23, 2023. He had a forged Costa
Rican passport when he was apprehended. Chang-Joon has now also been reported as being arrested.
Lawyers Admit Ignorance of Interpol’s Red Notice
Meanwhile,
unnamed officials from the Serbian Business Registry and lawyers at the Gecic
Law Firm have reportedly admitted ignorance about the existence of an Interpol
Red Notice on Do Kwon. Ognjen Colic, a partner at Kwon’s legal representatives
in Serbia, claimed that his firm took all the necessary steps before choosing to represent him.
"I
cannot comment on my client due to confidentiality agreements, but I can say
that this client went through all the regular security checks that we conduct
for every client, including the Interpol website, and he is not there—you can
check it for yourself now," explained Colic.
Milos
Petkovic, a lawyer from the same law firm, has been quoted in the report as
stating that he needed to consult his colleagues before commenting on Gecic Law
Firm’s decision to work for Kwon.
In
addition to South Korea, which issued a warrant for his arrest in
September 2022, Kwon was also wanted by authorities in Singapore and the United
States.
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