Home Ponzi Scheme Interpol Issues Red Notice for Terraform Founder Do Kwon l KBS WORLD
Interpol has issued a “Red Notice” for Terraforms Labs founder Do Kwon, who was accused of fraud following the catastrophic collapse of his firm’s cryptocurrencies in May.
The Seoul Southern District Prosecutors Office announced on Monday that the notice for Kwon was posted after the office requested Interpol’s assistance to trace the South Korean national’s whereabouts.
A Red Notice request like the one issued for Kwon and five others related to the scandal, including founding Terraform member Nicholas Platias, asks law enforcement agencies worldwide to assist in apprehending a fugitive facing prosecution or to serve a sentence.
Kwon and his blockchain firm have been under investigation for alleged fraud and tax evasion after investors of its cryptocurrencies – TerraUSD and Luna – filed complaints accusing him of carrying out a Ponzi scheme that resulted in the loss of an estimated 60 billion U.S. dollars following the crash of both coins.
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