Korean prosecutors say they have received an internationally wanted person from Interpol to help them find Terraform Labs crypto executive Kwon Do-hyung, aka Do Kwon.
Kwon, whose company is headquartered in Singapore, has been quiet over the weekend 17th of Septemberwhen his verified Twitter account is sarcastic written down He had “not run in a while” and needed to cut some calories. He added: “I’ll tell you what I’m doing and where I am when: 1) we’re friends 2) we have plans to meet up 3) we’re involved in a GPS-based Web3 game. Otherwise, you have nothing to do with knowing my GPS coordinates.”
As we reportedSingapore police officers claimed last weekend he had left the city-state, but Kwon denied he was “on the run”.
Prosecutors for Seoul’s South District claimed that Kwon was “apparently” on the run when he flew to Singapore in April this year, and just days earlier dissolved Terraform Labs’ South Korean branch mega crash which wiped out investors’ money in the so-called $40 billion stablecoin. Kwon said the timing is just a Coincidence.
Prosecutors in the country want to speak to Kwon about allegations that he and his firm committed fraud and tax evasion, filed by investors in cryptocurrencies tied to the Terra blockchain – TerraUSD and its sister token Luna (read more here).
At the time of publication, there were no fugitives with his name Interpol’s Red Notice List – although only about 7,500 of the approximately 69,000 valid notices are public and it can take up to a week for the suspects’ names to appear. We asked Interpol to confirm the Seoul South District Procuratorate claim, but it would not “comment on specific cases and individuals.” It added that “the majority of Red Notices are not published”.
A Red Notice is a “request to law enforcement agencies worldwide to locate and provisionally arrest an individual pending extradition, surrender, or similar legal process.” Remarks Interpol, adding that it is not an arrest warrant, just a “notice” to other police forces. Basically, only some countries treat it like an arrest warrant and carry out an arbitrary arrest so that the requesting country can initiate extradition proceedings, etc. New Zealandalongside other Interpol members, no.
In the European Union, the Schengen states refuse to follow an Interpol Red Notice requesting the extradition of a person to a third country, and Member States usually prefer to use the European Arrest Warrant (EAW) system. Great Britain has previously rejected to give UK police the power to arrest the subject of a Red Notice, although legal experts say this could change as the UK withdrew from the EAW system following Brexit. Wherever he is, if he is indeed subject to a red alert, he may want to dodge border guards or airport cops.
Kwon’s Twitter account said earlier this month the company was “in the process of defending ourselves in multiple jurisdictions – we’ve held ourselves to an extremely high bar of integrity and we look forward to clarifying the truth over the coming months.”
Julian Assange was famous the subject of a Red notice just a few hours before the EU issued an EAW at the end of 2010. Assange is currently still fighting extradition to America from a British maximum security prison to a seven years detour at London’s Ecuadorian Embassy in Knightsbridge. ®
https://www.theregister.com/2022/09/26/korea_interpol_do_kwon/ Interpol is helping us locate Do Kwon • The Register