•Do Kwon and Han Chang-Joon were arrested in Montenegro on a private jet bound for Dubai.
•Kwon is believed to have absconded with millions worth of Bitcoins after the collapse of Terra Luna UST early last year.
•Do Kwon and Han registered a company in Serbia three weeks after Interpol issued a Red Notice in September last year.
Do Kwon Arrested At Podgorica Airport
Do Kwon and Han Chang-Joon were arrested at Podgorica Airport in Montenegro on a private jet bound for Dubai. Several jurisdictions, including South Korea, the United States, and Singapore, have requested the duo be detained for financial fraud crimes. Furthermore, it is believed that Do Kwon made away with millions worth of Bitcoins after the collapse of Terra Luna UST early last year which caused the entire cryptocurrency market to plunge to last year’s bottom in June. A Montenegrin judge ruled that Kwon and Han should be detained for 30 days while investigations take place.
Company Registered In Serbia Despite Interpol Warnings
In an unexpected turn of events, Do Kwon and Han registered a company in Serbia three weeks after an Interpol Red Notice was issued in September last year. According to official records obtained from the Serbian Business Registry, Codokoj22 d.o.o Beograd was opened on October 12th 2023 with Do Kwan as its sole owner while Han served as direct manager. Serbian lawyer Ognjen Colic from Gecic Law Firm based in Belgrade submitted company registration documents for both suspects but noted that his firm conducted regular security checks as per Serbian regulations and found no evidence linking them to any crime listed by Interpol’s website.
Kwon’s Adamant Denial Of Wrongdoing
Despite being arrested by judicial law enforcement officers at Montenegro airport, Do Kwan has publicly denied any wrongdoing or involvement with criminal activities related to financial fraud crimes or cryptocurrency liquidation schemes . He claims he had been travelling for business purposes only during his time abroad and had not been involved with anything illegal or unethical during his stay overseas prior to his detainment at Podgorica airport .
Interpol Investigation Continues
Interpol is continuing its investigation into this matter despite Do Kwons adamant denial of any wrongdoing or involvement with any criminal activities related to financial frauds or cryptocurrency liquidation schemes . The prosecution will also investigate further if they find any evidence linking him to such activities during their course of their investigations over the next 30 days while he remains detained at Podgorica airport .
Conclusion
The arrest of Terra founder Do Kwan has cast light on hidden activities intended to lure more investors into investing within the crypto space . It is still unclear why exactly he chose Serbia as a jurisdiction for registering a business despite international warnings from organizations such as Interpol but it does reveal some interesting facts about how far people are willing go when it comes protecting their assets . The outcome of this case will be closely monitored by many within the crypto community and we can expect further developments over time .
