Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – According to a local publication, the former Terraform Labs CEO Kwon was able to start and register a firm in Serbia just a few weeks after an Interpol Red Notice for his arrest was issued. The corporation, registered on October 12, 2022 as Codokoj22 d.o.o. Beograd, lists Kwon as the owner.
The former CEO and his colleague Han Chang-Joon from Chai Company are both listed as corporate directors. According to a report in DL News, the duo’s Serbian company was established with capital equivalent to just under $1 (100 din). As per the report, Kwon and Chang-Joon utilized their Korean passports to register the new business with the Serbian Business Registry.
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As previously reported by in late September 2022, the global law enforcement agency Interpol initiated an international manhunt for Terraform Labs co-founder Kwon by issuing a Red Notice. Before the notification was issued, Kwon asserted that he was not on the run and was collaborating with any government agency that has expressed an interest in communicating.
However, it was reported on March 23, 2023, that the interior minister of Montenegro stated that Kwon was caught at the airport in Podgorica. When he was detained, he possessed a counterfeit Costa Rican passport. The arrest of Chang-Joon has now also been confirmed.
In the report, anonymous officials from the Serbian Business Registry and attorneys from the Gecic Law Firm are reported as denying the existence of an Interpol Red Notice. Ognjen Colic, a partner at Kwon’s Serbian legal counsel, asserted that his firm did all required step before deciding 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 on there – you can check it yourself now,” Colic reportedly said.
A lawyer from the same company, Milos Petakovic, is mentioned in the report as saying he wanted to check with his colleagues before commenting on Gecic Law Firm’s choice to represent Kwon. In addition to South Korea, which filed an arrest warrant for Kwon in September 2022, police in Singapore and the United States also sought his arrest.