Do Kwon registered a company in Serbia while under an Interpol red notice

The co-founder and CEO of Terraform Labs (TFL), Do Kwon, registered a company in Serbia three weeks after Interpol issued a red notice in September 2022. This is reported by DL News.

According to documents, the internationally sought Kwon opened a firm on October 12 named “Цодокоj22 д.о.о. Београд”. The legal address is in Belgrade’s Old Town, with a share capital of 100 dinars, or about $0.92. The declared primary activity is consulting services.

The founder of TFL is listed as the sole owner of the new company. Former Chai Corporation CEO Han Chang-jun is listed as a co-director. According to the publication, they used their Korean passports to submit the application.

The registration request for Kwon’s company was prepared by Gecic Law Firm of Belgrade. According to partner Ognen Kolich, the client passed all ordinary security checks, including a search on the Interpol website.

“He wasn’t there, you can verify it yourself,” the lawyer said.

In March 2023, Kwon and Han Chang-jun were arrested by the Montenegrin police when they attempted to fly from Podgorica Airport to Dubai using forged documents.

The arrest occurred at the request of law‑enforcement agencies in the United States, Singapore and South Korea. In December, media citing Seoul prosecutors reported that Kwon is hiding in Serbia.

The head of TFL himself said that he is not “on the run” and is cooperating with law enforcement.

In February SEC filed a civil suit against TFL and its CEO for orchestrating a multi-billion-dollar securities fraud.

As a reminder, after the arrest in Podgorica, the U.S. Attorney’s Office in New York filed criminal charges against Kwon on eight counts.