According to reports from various media outlets, Do Kwon, the founder of Terraform Labs, established a new company in Serbia for a remarkably low price of less than $1 just a few weeks after being placed on the international wanted list by Interpol.
Kwon founded a company named “Codokoj22 d.o.o. Beograd” in October 2022, paying only 100 Serbian dinars (equivalent to $0.92) for its registration.
The company’s primary focus is providing consultancy services, with Kwon as the sole proprietor and former Chai Corporation CEO, Han Chang-Joon, listed as another executive. To register the company, Kwon and Han used their Korean passports, and the company is still actively running.
Kwon also hired a Serbian law firm, Gecic Law, to represent him, and the firm’s partner, Ognjen Colic, confirmed that Kwon had passed the standard security check conducted for each client.
Notably, Kwon’s search on Interpol’s website did not yield any information, although he was previously included in the list of the most wanted criminals, and Interpol had notified law enforcement officers in other countries about him.
Kwon is accused of leading a multi-billion dollar scam related to the collapse of the Terra ecosystem. Recently, Kwon was arrested in Montenegro with forged documents, which, according to Montenegro’s Criminal Code, carries a maximum penalty of up to three years in prison.
US attorneys have charged Kwon with fraud and market manipulation and are seeking his extradition to the United States. In February, the US Securities and Exchange Commission (SEC) accused Kwon of violating securities laws, adding to his legal woes.