Do Kwon registered a new company in Serbia amid Interpol Red Notice: Report

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Key Takeaways

  • Official documents obtained from the Serbian Business Registry reveal that Do Kwon opened a company “Codokoj22 d.o.o. Beograd” on October 12 for $0.92 
  •  Reportedly, Do Kwon also allegedly contracted a Serbian law firm, Gecic Law, to represent him.
  • Last week, Do Kwon was arrested by police in Montenegro for forgery.

Terraform Labs co-founder Do Kwon reportedly registered a company in Serbia weeks after Interpol issued a Red Notice for him in September last year.

According to a DLNews report citing official documents obtained from the Serbian Business Registry, Do Kwon opened a company named “Codokoj22 d.o.o. Beograd” on October 12, 2022, for $0.92 (100 Serbian dinars). 

The address listed is in the old town of the Serbian capital’s city center. Reportedly, Do Kwon also allegedly contracted a Serbian law firm, Gecic Law, to represent him.

Allegedly, Do Kwon and Han Chang-Joon, the former CEO of Chai Corporation, used their Korean passports to register the company.

The crypto Twitter community has responded to the DLNews report strongly, calling out Serbian authorities for being corrupt. Crypto Researcher Fatman Terra tweeted that At every level, Do Kwon “systematically abuses his power & stolen money in every way possible.”

“When you have enough money, the system bends around you. Corrupt lawyers in Serbia helped Do Kwon establish a fresh shell company despite his active red notice and arrest warrant”, Fatman’s tweet reads.

The latest development comes amid Do Kwon facing arrest in Montenegro after being charged with forgery. Last week, Federal prosecutors in New York charged Terraform Labs founder with fraud hours after he was arrested by police in Montenegro. Federal Prosecutors have charged Kwon with conspiracy to defraud, commodities fraud, securities fraud, wire fraud, and conspiracy to engage in market manipulation.

Apart from these charges, Kwon is also facing civil charges filed by the U.S. Securities and Exchange Commission, which include allegations that he misled investors.

The Terra Network leader, whose location had been a mystery for months, also faces a probe in South Korea and has been on an Interpol wanted list in relation to terraUSD (UST) collapse in May.

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Saniya Raahath
Saniya Raahath

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