Interpol Red Notice Against Do Kwon

Interpol Red Notice Against Do Kwon? Terra Founder Flees Singapore

In News, Industry by Prajjval TripathiLeave a Comment

Days after Terra co-founder Do Kwon claimed he was not on the run, the Seoul Southern District Prosecutor’s Office refuted the claim while requesting Interpol to issue a red notice against him. Prosecutors in South Korea have initiated the procedure to place Kwon on the Interpol red notice list. If Interpol accepts the request, 195 countries across the globe will receive a notice regarding the same.

The request success the confirmation by the Singapore police that Kwon is no longer in Singapore. Kwon took to Twitter to claim he was not on the run and would cooperate with the authorities. However, prosecutors rebuffed the claim while saying that he is “obviously on the run.” The prosecutors said they have enough evidence to support the claim. 

A South Korean court had issued an arrest warrant against Do Kwon and five others for violating the Capital Market Act. The warrant was issued at the request of the prosecutors. The prosecutors allege that the Terra co-founder has been on the run since the Terra-Luna fiasco. They further allege that Kwon disbanded TerraForm Labs in South Korea. The Terra co-founder and other top executives had fled to Singapore after the crisis. Kwon is also accused of failing to cooperate with the authorities. 

Kwon’s name fell under the scanner after the Terra-Luna crisis that led to the crash of two coins- TerraUSD and LUNA, earlier this year. The fiasco wiped out more than $40 billion of hundreds of thousands of investors. Do Kwon was accused of illegal fundraising and fraud by investors in the US and South Korea after the crash.

What Is Interpol Red Notice?

The Interpol Red Notice is an international document against wanted persons/criminals. The notice addresses law enforcement agencies in 195 countries across the world, requesting them to locate and temporarily detain the person until they are extradited to the concerned authorities. Such notices are generally issued against fugitives who flee from the place of crime/illegal action.

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