17 hour ago
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Do Kwon Seeks 5-Year Sentence in US for Terra Collapse
Summary:
- Do Kwon, founder of Terraform and involved in the Terra blockchain collapse, seeks a five-year prison sentence in the US.
- He pleaded guilty to conspiracy and wire fraud charges linked to the $40 billion TerraUSD crash in 2022.
- Kwon agreed to forfeit over $19 million and several properties as part of his penalties.
- He has already spent about three years in harsh prison conditions in Montenegro.
- South Korean prosecutors pursue a separate case where he could face up to 40 years in prison.
- US prosecutors have agreed not to seek a sentence exceeding 12 years.
- In December 2024, Montenegro approved Kwon's extradition to the US, leading to his eventual guilty plea in August.
