South Korean prosecutor: 'Do Kwon has definitely gone on the run'

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Despite statements by the creator of the collapsed Terra project about cooperation with law enforcement agencies, South Korean prosecutors said that he refused to cooperate and fled.

The prosecutor's office made a corresponding statementin response to Do Kwon's September 17 post that he had no intention of running away from investigation. Earlier in the day, Singapore police reported that the founder of Terra had left the city-state.

Do Kwon is under investigation for suspicionin fraud and tax evasion - relevant cases were opened after the collapse of the Terra ecosystem and complaints from investors. As part of the investigation, the Seoul Southern District Prosecutor's Office issued
arrest warrant for Do Kwon.

“We are now trying to locate the suspect and detain him,” a representative of the prosecutor’s office said on September 18.

In a statement, the South Korean prosecutor's office emphasizes that the department will work together with foreign colleagues to jointly arrest the creator of Terra.

Earlier it was reported that the South Korean authorities are going to revoke the citizenship of the former CEO of Terraform Labs, as well as his five colleagues living in Singapore.