It appears that one of the most sought after white collar fugitives in recent history managed to avoid arrest by using a commonly used trick to create a shell company in Central Europe.
IT whiz kid and supposed crypto-currency genius Do Kwon, now indicted on eight counts by US authorities for fraud and related charges—and reportedly having lost some USD 40 bln through this crypto-currency endeavours—was arrested in Podborica, Montenegro, allegedly with a bogus Costa Rican and Belgian passports.
Yet it appears that part of his effort to evade capture and continue to launder money came through the registration of a company in Serbia through a pair of Serbian lawyers, who apparently did little in the way of KYC checks.
As reported by the DLNews, only weeks after being put on an Interpol “red-notice” list, the co-founder of Terraform Labs, also “Codokoj22 d.o.o. Beograd” in Serbia, with business activities listed as consultancy services.
The business listed Terraform Lab’s CFO, Hang Chang-joon, as company co-director.
Do Kwon is currently sought for extradition to the US, South Korea and Singapore. South Korean authorities reportedly also is being sought by South Korea with regard to alleged crimes linked to Terraform Lab’s LUNA token.
DL News reportedly attempted to contact the lawyers that registered the company, but confidentiality issues were cited, although the law firm said it had conducted KYC checks, and that the fugitive was actually not currently listed on the Interpol website as wanted.
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