Do Kwon ‘Clearly on the Run,’ Korean Authorities Request Interpol Red Notice

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South Korean prosecutors have requested the nation’s international ministry to revoke Do Kwon’s passport. They’ve additionally initiated the course of to get Interpol to situation a crimson discover for Kwon, media studies mentioned on Monday.

These developments come shut on the heels of Do Kown on Sunday claiming in a tweet that he was not on the run, moderately, he was cooperating with authorities in a number of jurisdictions.  

He is Clearly on the Run… 

“We have begun the process to put him on the Interpol crimson discover record and revoke his passport… We are doing our greatest to find and arrest him… He is clearly on the run as his firm’s key finance folks additionally left for the identical nation [Singapore] throughout that point,” the Seoul Southern District Prosecutors’ Office said on Monday. 

On Saturday, the Singapore police clarified that Kwon was now not in the city-state, however the regulation enforcement company would cooperate with South Korean authorities on this matter.

Last week, a Korean court docket issued an arrest warrant in opposition to Kwon. He reportedly advised the prosecutors by means of his attorneys that he didn’t want to reply to their summons instantly.          

The Case to this point 

Last week’s arrest warrant included Kwon and 5 others, together with Terra founding member Nicholas Platias, for not cooperating with the investigation.

Following the collapse of the $40-billion Terra-Luna ecosystem, a complete of 81 South Korean traders filed complaints in opposition to the firm and its officers, accusing them of fraud.

The South Korean court docket compiled these complaints into two circumstances. The court docket mentioned Kwon and others have apparently violated the nation’s capital markets legal guidelines and should take part in the investigations, the coverage famous.  

Prosecutors claimed that Kwon disbanded the South Korean unit of Terraform Labs in April and moved to Singapore. In May, Kwon’s members of the family and the firm’s key finance folks, too, flew to Singapore.  

Since the news of the arrest warrant in opposition to Kwon turned public on September 14, LUNA has dropped over 40% from $4.36 on September 14 to $2.50 on September 19. 

Featured Image Courtesy of TRT World

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