Serbian Police Seize Do Kwon’s $2.2 Million Apartment In Belgrade

Key Points:

• Serbian police have seized the luxury Belgrade apartment of Terraform Labs CEO Do Kwon hiding in a six-month manhunt.
• Kwon’s partner, Han Chang-Joon, bought the apartment for $2.2 million on the run.
• The police carried out on-site searches of the apartments and houses and temporarily seized the apartments according to the prosecution order.

Serbian police have seized the luxury apartment in Belgrade where Terraform Labs CEO Do Kwon hid during a six-month manhunt worth $2.2 million.

According to DL News, Serbian prosecutor Branko Stamenkovic announced that Serbian police had seized the luxury apartment in Belgrade, where Terraform Labs CEO Do Kwon was hiding during a six-month chase, worth $2,2 million.

Currently, the police have conducted on-site searches of apartments and houses and temporarily confiscated the apartments according to the prosecution order, the request for prosecution of high-tech crimes, and the High Court of Belgrade order.

Both the United States and South Korea have charged Do Kwon with fraud related to the $60 billion collapse of the Terra blockchain network last May. South Korean prosecutors are also seeking to extradite Han for his role as the former CFO of Terraform Labs. Interpol arrest warrants were issued for two South Korean nationals in September 2022.

The apartment was purchased by Kwon’s accomplice Han Chang-Joon, the chief financial officer of Terraform Labs, who was arrested along with Kwon when the two attempted to board a private jet to Dubai from Montenegro. The pair have been detained for allegedly using a fake passport and are now awaiting formal charges in a Montenegro court – expected to occur this week.

DL News contacted several real estate agents from Belgrade offering luxury apartments in the city’s elite Dedinje district to find out how the buying process and security checks work.

Terraform Labs founder and CEO Do Kwon is at a considerable disadvantage after prosecutors recently discovered Kwon had sent $7 million to a South Korean law firm before the lawsuits were filed TerraUSD and Luna tokens crashed in May.

In addition, the US Court approved the SEC’s request to access Terra’s documents at the Singapore headquarters of the SEC despite solid objections from Kwon. It’s unclear what the SEC’s action will be, but it’s certainly a significant disadvantage for convicting him.

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