South Korean prosecutors have asked Interpol to intervene in their case against Terra co-founder Do Kwon to issuing a “Red Notice,” implying that global law enforcement agencies may try to find and detain him.
According to a Financial Times report on September 19, the Seoul Southern District prosecutors office stated that it had “begun the procedure” to place Kwon on Interpol’s Red Notice list after taking steps to revoke the Terra co-founder’s passport while he was in Singapore. According to Interpol’s website, a “Red Notice” is issued when authorities want to “locate and provisionally arrest a person pending extradition, surrender, or similar legal action,” but the agency cannot compel local law enforcement to arrest the person named in the notice.
A prosecutors’ office spokesperson reportedly said, “We are doing everything we can to find and arrest [Kwon].” “He is clearly on the run, as his company’s key financial personnel also fled to the same country at the same time.”
Despite the possibility of arrest and prosecution, Kwon has remained active on social media. According to reports, the Terra co-founder claimed on Sunday that he was “not ‘on the run’ or anything similar,” but did not reveal his location—his Twitter account still showed him in Singapore at the time of publication. According to Reuters, authorities in Singapore said on Saturday that Kwon had left the country after moving there from South Korea in April.
South Korea issues arrest warrant for Terra co-founder
On September 14, a South Korean court reportedly issued an arrest warrant for Kwon and five Terra associates for allegedly violating capital markets laws. However, South Korea does not have an extradition treaty with Singapore. According to the South Korean prosecutor’s office, the Terra founder is accused of violating the country’s capital markets law.
Do Kwon hired attorneys from a South Korean law firm on Aug. 17, just a few days after claiming that the authorities had not yet contacted him. According to reports, Terra’s founder handed over a letter of appointment to the department in charge of investigating the Terra collapse.
On August 16, the Terra founder also broke his silence in an attempt to clear his name of various allegations. Despite Kwon’s efforts, community members continued to criticise the Terra CEO, comparing his situation to that of Tornado Cash’s creator, who was arrested for writing a privacy code.
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