South Korean prosecutors have requested that the country’s foreign ministry revokes Do Kwon’s passport be revoked by the country’s foreign ministry. According to Monday media reports, theyThey have also started the procedure for Interpol to issue a red alert for Kwon, according to Monday media reports.
Do Kown tweeted on Sunday that he was not on the run and was instead collaborating with police in a number of jurisdictions.
Clearly, he is on the run…
“We have begun the procedure to place him on the Interpol red notice list and revoke his passport… We are doing our best to locate and arrest him… He is clearly on the run as his company’s key finance people also left for the same country [Singapore] during that time,” the Seoul Southern District Prosecutors’ Office said on Monday.
The Singapore police emphasised on Saturday that Kwon was no longer in the city-state, but that they would continue to work with South Korean authorities on this subject. Kwon could not be reached for comment.
I am not “on the run” or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide
— Do Kwon 🌕 (@stablekwon) September 17, 2022
A Korean court issued an arrest order for Kwon last week. According to reports, he informed the prosecution through his attorneys that he would not reply to their summons immediately.
The case until now
Kwon and five others, including Terra founding member Nicholas Platias, were issued arrest warrants last week for failing to cooperate with the inquiry.
After the collapse of the $40 billion Terra-Luna ecosystem, 81 South Korean investors have filed fraud allegations against the firm and its management.
The court in South Korea consolidated these allegations into two separate cases. According to the broadcast, the court ruled that Kwon and others breached the country’s capital markets legislation and must cooperate in the investigations.
According to the prosecution, Kwon dismantled Terraform Labs’ South Korean branch in April and relocated to Singapore. In May, members of Kwon’s family and the company’s top financial personnel travelled to Singapore.
Since the warrant for Kwon’s arrest was made public on September 14, LUNA has declined by more than 40%, from $4.36 on September 14 to $2.50 on September 19.