Do Kwon in Serbia, say South Korean Authorities

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  • South Korean authorities believe that Do Kwon is in Serbia
  • Kwon left Singapore for Dubai at the end of October, which seems to have been a transitory move
  • Serbia does not have an extradition agreement with South Korea, which could hamper authorities’ efforts to get him back

South Korean authorities believe that Terra co-founder Do Kwon has fled to Serbia, and have requested assistance from the Serbian government in handing him over. Kwon, who has denied being on the run, is wanted by South Korean prosecutors over alleged financial crimes concerning the Terra USD/LUNA implosion earlier this year, resulting in an Interpol red notice allegedly being issued for him. However, this doesn’t seem to have been enough to stop him leaving for Europe, where authorities face even bigger challenges in getting their hands on him.

Kwon’s Escape Act Continues

Kwon has been in a running battle with the Seoul Southern District Prosecutor’s Office’s Financial and Securities Criminal Unit since mid-September when an arrest warrant was issued for him.

At the time he was thought to be residing in Singapore with other members of the Terraform Labs gang, some of whom were also issued with arrest warrants, saying five days later that he was “obviously on the run” after Kwon had denied the accusation, saying that the police knew exactly where he was.

This seems to have changed now however, with the suggestion that Kwon had flown to Dubai at the end of October as part of a plan to relocate elsewhere, with that somewhere apparently being Serbia of all places.

Authorities Face Tough Time

South Korean news site Chosun Media has reported that this is where Kwon has pitched up, and if true this presents a further difficulty for South Korean police – Serbia does not have any extradition agreement with South Korea, which obviously was in Kwon’s thinking at the time, although is does have a much broader multilateral extradition treaty with the Council of Europe, to which Serbia is a signatory.

Kwon and five others connected to Terra are being sought by law enforcement relating to violation of capital market rules following the collapse of the $60 billion Terra empire in May.