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Korean Authorities Request Interpol Red Notice On Do Kwon – Terra Co-Founder

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Korean Authorities Request Interpol Red Notice On Do Kwon – Terra Co-Founder :

Cryptoforpidgin earlier reported Do Kwon’s speech towards the hiding suspicions from Authorities.

According to Do Kwon, he is not on the run, and not everyone has the right to know his whereabout/location.

However, things have gone worse even after he broke the silence.

South Korean prosecutors have asked the country’s foreign ministry to revoke Do Kwon’s passport.

They’ve also initiated the process to get Interpol to issue a red notice for Kwon, according to Monday’s report.

These new updates comes after Do Kwon’s speech on Sunday claiming he was not on the run, rather, he was cooperating with authorities in several jurisdictions.

Do Kwon is obviously 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.

On Saturday, the Singaporean police confirmed that Kwon was no longer in the city-state, but promised to cooperate with South Korean authorities on this matter.

Last week, a Korean court issued an arrest warrant against Kwon.

He allegedly told the prosecutors through his lawyers that he did not wish to respond to their summons immediately.

Last week’s arrest warrant included Kwon and five others, including Terra founding member Nicholas Platias, for not cooperating with the investigation.

 

 

On Saturday, the Singapore police clarified that Kwon was no longer in the city-state, but the law enforcement agency would cooperate with South Korean authorities on this matter.

Last week, a Korean court issued an arrest warrant against Kwon. He reportedly told the prosecutors through his lawyers that he did not wish to respond to their summons immediately.

The arrest warrant included Kwon and five others, including Terra founding member Nicholas Platias, for not cooperating with the investigation.

Following the Fiasco of the $40-billion Terra-Luna ecosystem, a total of 81 South Korean investors filed complaints against the company and its officials, accusing them of fraud.

The South Korean court compiled these complaints into two cases.

The court said Kwon and others have apparently violated the country’s capital markets laws and must be investigated, the coverage noted.

Prosecutors claimed that Kwon flew the South Korean unit of Terraform Labs in April to move into Singapore.

In May, Kwon’s family members and the company’s key finance people, too, flew to Singapore.

Meanwhile, since the news of the arrest warrant against Kwon became public on September 14, LUNA has dropped over 40% from $4.36 on September 14 to $2.50 on September 19.

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