According to a report, the recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia just a few weeks after Interpol issued a Red Notice for him. Lawyers that helped Kwon form a company in Serbia reportedly said they were not aware 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 for arrest was issued, the former Terraform Labs CEO Kwon was still able to form and register a company in Serbia, a local publication has said. Known as Codokoj22 d.o.o. Beograd, the company which was registered on Oct. 12, 2022, lists Kwon as the owner. The former CEO along with his countryman Han Chang-Joon from Chai Corporation are also named as directors of the company.

According to a report in DL News, the duo’s Serbian company was established with capital equivalent to just under $1 (100 din). The report added that Kwon and Chang-Joon used their Korean passports to register the new company with Serbian Business Registry.

As previously reported by Bitcoin.com News in late Sept. 2022, the global law enforcement agency Interpol kickstarted an international manhunt for Kwon after it issued a Red Notice for the Terraform Labs co-founder. Before the notice was issued, Kwon insisted that he was not on the run and that he was in fact cooperating with “any government agency that has shown interest to communicate.”

However, Bitcoin.com News reported on March 23, 2023, that Montenegro’s interior minister said Kwon was arrested at Podgorica airport. He had a forged Costa Rican passport on him when he was apprehended. Chang-Joon has now also been reported as being arrested.

Lawyers Unaware of Interpol’s Red Notice

Meanwhile, unnamed officials from the Serbian Business Registry and lawyers at Gecic Law Firm are quoted in t

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Author: Terence Zimwara

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