NewsletterBreaking: Where Is Terra Founder Do Kwon Hiding?
Terra founder Do Kwon who was earlier reported to be hiding in Singapore left the country for an unknown location through Dubai. South Korean prosecutors reportedly revealed that Do Kwon left Singapore last month and landed in Dubai, United Arab Emirates (UAE). The investigation team is currently tracking his whereabouts in Dubai and adjacent countries.
South Korea’s Prosecutors Track Do Kwon to Dubai
Singapore police earlier confirmed that Do Kwon has left the country before South Korea issued warrants against him and 5 other Terra executives. South Korea’s prosecutors later requested Interpol to issue a “red notice” against Terra founder Do Kwon. Now, Terra’s founder is reportedly a wanted fugitive in 195 countries.
South Korean prosecutors and Interpol have reportedly tracked Do Kwon to Dubai, as per Chosun Biz on October 20. Prosecutors believe Do Kwon left Singapore a month ago and landed in Dubai. While investigators look for entry at the UAE airports, the team hasn’t found any evidence yet. Meanwhile, authorities and police have requested other countries near Dubai to track his whereabouts.
Seoul Southern District Prosecutors’ Office and Interpol are currently tracking his location. However, authorities have not yet been able to locate him.
During a recent Unchained interview, Do Kwon revealed that he has no intention to return to South Korea as his passport get invalidated. Moreover, he reiterated his statement that “he is not on the run” and cooperating with authorities. However, Do Kwon confirmed that he hasn’t seen any warrants or documents related to the red notice from Interpol.
Terra founder Do Kwon is active on Twitter and claims prosecutors are spreading misinformation about him. While Do Kwon regrets the $60 billion loss to Terra investors, he denied most allegations during the recent interview. Moreover, he revealed that compensation earlier promised by him and Luna Foundation Guard (LFG) is unlikely to happen soon.
Impact on Terra (LUNA) Price
South Korean prosecutors’ escalating action against Terra founder Do Kwon impacted Terra’s (LUNA) prices. South Korea investigating Terra executives on allegations of violating the Capital Markets Act, fraud, and money laundering.
LUNA price is trading at $2.44, down nearly 2% in the last 24 hours. Meanwhile, Do Kwon has denied working on Terra Classic, he still influences the LUNC price. The LUNC price is trading at $0.00025, up nearly 2% in the last 24 hours.
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