By issuing a red alert for Kwon via Interpol, 195 nations would be urged to help find and arrest him.
As the quest for the Terraform Labs CEO escalates, the Seoul Southern District Prosecutor’s Office said on Monday that it has begun the process of putting him on Interpol’s red notice list.
A red alert issued by Interpol against Kwon would make the Korean entrepreneur a fugitive in 195 nations across the globe. When a person is put on Interpol’s red notice list, officials from the organization’s member nations are tasked with locating and apprehending the individual in preparation for potential extradition.
The current update follows another week of controversy surrounding the disgraced leader of the defunct Terra blockchain. On 14 September, a Seoul court issued an arrest order for him and five of his collaborators, before prosecutors disclosed intentions to revoke his passport and that of four of the five other accused.
On Saturday, Singapore police published a statement alleging that Kwon had departed the country, leading him to resort to Twitter to assure his followers that he was not a “fugitive.” Kwon stated that he and his coworkers have cooperated with police while the Terra incident investigation continues.
Though the red notice has not yet been finalised, today’s move is the strongest indication yet that Kwon may soon face consequences for his part in Terra’s $40 billion meltdown. Kwon was the primary spokesperson of Terra, which infamously failed in May when its UST stablecoin lost its dollar peg.
Since then, several authorities throughout the globe have been investigating Kwon and Terraform Labs, and he is now facing multiple class-action lawsuits brought by Terra investors.
Kwon has been charged with various crimes in the aftermath of Terra’s collapse, including deceiving investors, tax fraud, misappropriating corporate cash, and operating a Ponzi scheme. He has denied repeatedly any misconduct.
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