Korea asks Interpol for help in finding Do Kwon. The founder of Terraform Labs is on the run to avoid an investigation against him.
This weekend, Terraform Labs CEO Do Kwon tweeted that he was “not free”or “something like that.”The announcement comes after South Korean authorities issued an arrest warrant last week for him and five others associated with Terraform Labs for violating the country’s market laws. Prosecutors are unconvinced, especially since authorities in Singapore, where Do Kwon returned last April, have said he is no longer in the country. Today, the Seoul Southern District Prosecutor’s Office is asking Interpol to help put him on the red list and cancel his passport.
South Korea asks Interpol to help find Do Kwon
According to the Interpol website, the red notice is intended to “locate a person and […] effect a provisional arrest pending extradition, extradition or similar action in accordance with the law.”It is often requested for fugitives. According to Yonhap News, Do Kwon traveled to Singapore at the end of April around the same time he liquidated his company’s offices in Korea. Members of his family and other prominent members of Terraform Labs reportedly followed him to the city-state in May.
Terraform Labs founder is on the run
The CEO and other executives of Terraform Labs are currently under investigation for financial fraud and tax evasion after the company’s stablecoins, TerraUSD and Luna, plummeted. 40 billion dollars of investors disappeared. And these investors, who sometimes lost all their savings, filed a complaint accusing him of creating a Ponzi scheme.
avoid investigation against him
Prosecutors believe that Do Kwon fled Korea to “evade the investigation,”especially since the man allegedly told them through his lawyers that he was not going to appear for questioning. A spokesman for the Seoul prosecutor’s office told The Times that they are doing everything they can to find and arrest him. “He is clearly on the run, key members of his financial service also fled to the same country during this period.”
Do Kwon has yet to comment on this call to Interpol to help find him. On Twitter, he is still based in Singapore and his last tweets were this weekend, which seems to indicate that he is not trying to avoid possible arrest by the authorities.
I’m not “on the run”or anything like that – for any government agency showing an interest in communicating, we’re fully cooperating and we have nothing to hide.
— Do Kwon 🌕 (@stablekwon) September 17, 2022