South Korean prosecutors have requested Interpol to difficulty a pink discover towards Do Kwon, the co-founder of collapsed cryptocurrency operator Terraform Labs, alleging that he’s refusing to co-operate with an investigation into the $40bn implosion of the terraUSD and luna tokens.
The Seoul Southern District Prosecutors’ Office stated on Monday that it requested Seoul’s overseas ministry to cancel Kwon’s South Korean passport as he was “obviously on the run and has no intention to appear before us for questioning”.
“We have begun the procedure to place him on the Interpol red notice list and revoke his passport,” the prosecutors’ workplace stated, including that Kwon had not co-operated with investigations into his firm’s collapse.
An Interpol pink discover is a request to regulation enforcement worldwide to “locate and provisionally arrest a person pending extradition, surrender or similar legal action”, based on Interpol’s web site. Red notices are issued for fugitives needed both for prosecution or to serve a sentence.
The prosecutor’s workplace stated that Kwon informed investigators by his lawyer that he didn’t wish to reply to their summons instantly.
Prosecutors stated he disbanded the South Korean unit of Terraform Labs and left for Singapore on the finish of April.
“We are doing our best to locate and arrest him,” a spokesperson for the workplace stated. “He is clearly on the run as his company’s key finance people also left for the same country during that time.”
I’m not “on the run” or something comparable – for any authorities company that has proven curiosity to speak, we’re in full cooperation and we don’t have something to cover
— Do Kwon ???? (@stablekwon) September 17, 2022
Kwon couldn’t be reached for remark. Kwon’s legal professionals couldn’t instantly be reached for remark.
Last week, a South Korean court docket issued arrest warrants for Kwon and 5 others linked to Terraform Labs for violating the nation’s capital markets legal guidelines, saying that they had been staying in Singapore.
Singapore police stated on Saturday that Kwon was not at present within the city-state, however they might help the South Korean investigation.
After the arrest warrants had been launched, Kwon denied that he was on the run. “I am not ‘on the run’ or anything similar — for any government agency that has shown interest to communicate, we are in full co-operation and we don’t have anything to hide,” Kwon wrote on Twitter on Sunday.
“We are in the process of defending ourselves in multiple jurisdictions — we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.”
South Korean prosecutors have accused Kwon of monetary fraud and are investigating him and his firm after two complaints had been filed on behalf of 81 buyers over allegations that the enterprise deceived buyers.
Source: www.ft.com