Do Kwon Says Five Years in Prison Enough for Terra Crypto Fraud
Police officers escort Do Kwon in Podgorica, Montenegro, on March 23, 2024.
Photographer: Filip Filipovic/Getty Images
Terraform Labs Pte. co-founder Do Kwon says he should get no more than five years in prison in the US for his role in a fraud tied to the $40 billion collapse of the TerraUSD stablecoin in 2022.
Kwon pleaded guilty in August to conspiracy and wire fraud and averted a trial after he was extradited to the US from Montenegro, where he’d been arrested and convicted of using a phony passport while a fugitive from charges in his native South Korea.