According to a report, recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia. The registration came just a few weeks after Interpol issued a Ret Nocie for him. Lawyers who helped Kwon set up a business in Serbia reportedly said they were unaware of Interpol’s red notice against their client.
Do Kwon uses Korean passport to register company
Just a few weeks after an Interpol Red Notice was issued for arrest, former Terraform Labs CEO Kwon was still able to form and register a company in Serbia, according to a local publication. Known as Codokoj22 doo Beograd lists Kwon as owner. The company was registered on October 12, 2022. The former CEO along with his compatriot Han Chang-Joon of Chai Corporation are also named as directors of the company.
The duo’s Serbian company was founded with capital equivalent to just under $1 (100 din). This reported a report in DL News. The report added that Kwon and Chang-Joon used their Korean passports to register the new company with the Serbian Trade Register.
Interpol launched an international manhunt for Kwon at the end of 2022. The global law enforcement agency had issued a Red Notice for the co-founder of Terraform Labs. Before the notice was issued, Kwon insisted he was not on the run. He said he was in fact working with “any government agency that has expressed an interest in communicating.”
Montenegro’s interior minister said Kwon had been arrested at Podgorica airport. He was carrying a forged Costa Rican passport when he was apprehended. Chang-Joon would now also be arrested.
Lawyers unaware of the Interpol Red Notice
Meanwhile, unnamed officials of the Serbian Commercial Register and lawyers from Gecic Law Firm are quoted in the report. They claim to be ignorant of the existence of an Interpol Red Notice. Ognjen Colic claimed his company took all necessary steps before choosing to represent him. The partner at Kwon’s legal representatives in Serbia reportedly said the following:
I cannot comment on my client due to confidentiality agreements. What I can say is that this client has gone through all the regular security checks that we do for each client, including the Interpol website, and it is not listed there. You can now check it yourself.
Milos Petakovic, a lawyer from the same law firm, is quoted in the report. He states that he should consult his colleagues before commenting on Gecic Law Firm’s decision to work for Kwon.
In addition to South Korea, which issued an arrest warrant against him in September 2022, Kwon was also wanted by authorities in Singapore and in the United States.
