Do Kwon, Terraform Labs CEO and cofounder, took to Twitter over the weekend to state that he wasn’t “on the run” nor “anything like this.” The statement was made after South Korean authorities issued an order for him and five others to be arrested for violating South Korea’s capital markets laws. Korean prosecutors aren’t convinced, particularly since authorities in Singapore, from where Kwon traveled back in April to the country, stated that he was not longer in the country. According to reports, the Seoul South District Prosecutors’ office is now asking Interpol for him to be placed on the agency’s red list and his passport to be revoked. The Financial Times.
The following is an extract from the Website of InterpolA red notice is issued to fugitives and seeks “the location or arrest of wanted persons, either for prosecution or for serving a sentence.” As Yonhap NewsNotes that Kwon flew from Korea to Singapore in April, around the time he disbanded his Korean office. According to reports, Kwon’s family and key Terraform Labs personnel followed him to Singapore in May.
Following the collapse in the stablecoins of Terraform Labs, an investigation has been launched into the executives and other Terraform Labs personnel for tax fraud and tax avoidance. TerraUSDLuna. The even wiped out $40 billion worth of investor funds. Investors who lost their entire life savings due to the crash filed complaints against him alleging he ran a Ponzi scheme.
Prosecutors believe that Kwon fled Korea in order to “evade investigation,” as Kwon reportedly told them through his lawyers he did not intend to appear before the court. According to a spokesperson from the Seoul prosecutors’ Office, The TimesThey’re trying to locate him and get him arrested. “He is clearly on the run as his company’s key finance people also left for the same country during that time,” they added.
Kwon has not responded to the Interpol’s request for assistance in finding him by the prosecutors. His location on Twitter is still Singapore. His latest tweets are from the weekend. He denied that he was trying escape being arrested by law enforcement.
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