According to Korean officials, Terra co-founder Do Kwon fled to Serbia to avoid being arrested.
WikiBit 2022-12-13 19:21Kwon Do-Hyung, the founder of Terra Labs, is reportedly in Serbia, according to a Chosun story. According to the source, Do Kwon evades capture by Korean authorities who think he has gone to Serbia.
Do Kwon, the contentious founder and CEO of Terraform Labs, is the target of an ongoing international search operation. According to South Korean officials, he left Singapore in September and is currently believed to be in Serbia.
According to a Dec. 11 story from Chosun Media, South Korean officials investigated a tip-off regarding Do Kwon's locations saying he is currently in Serbia and has been able to verify it.
“Recently, we obtained intelligence that CEO Kwon was in Serbia, and it was found to be true,” according to an official.
According to the source, the inquiry is being conducted by the South Korean Ministry of Finance, which “is in the process of asking for cooperation from the Serbian government.” Since Terra's demise, South Korean authorities have been looking for Do Kwon, but they don't appear to have experienced much success locating him until now.
The 31-year-old is said to have relocated to Singapore at the tail end of April, shortly before shocking breakdown of the Terra ecosystem.
Kwon was the subject of an outstanding warrant on September 14 from the Financial and Securities Criminal Unit of the Seoul Southern District Prosecutor's Office for reportedly breaking South Korean capital markets legislation.
Around at that time, Singaporean police verified that Kwon had left the state and was believed to have traveled via Dubai to an unidentified new location.
The South Korean Ministry of Foreign Affairs gave Kwon until October 6 to turn in his passport. The ministry also stated that his passport will be completely revoked if he doesn't comply.
Prosecutors in South Korea later that month verified rumors that Do Kwon had traveled to Dubai for just a potential layover before continuing to a different location, which in retrospect may have been Serbia.
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