Do Kwon Pleads Guilty to Fraud, Faces Up to 12 Years in Prison
Main Idea
Do Kwon, co-founder of Terraform Labs, pleaded guilty to fraud charges in the U.S. and faces up to 12 years in prison, with sentencing scheduled for December 11, 2025.
Key Points
1. Do Kwon admitted to conspiracy to defraud and wire fraud in a court appearance on August 12, 2025.
2. The fraud involved misleading cryptocurrency buyers from Terraform Labs between 2018 and 2022.
3. Kwon agreed to pay $19 million in financial penalties as part of his plea deal.
4. The maximum prison term for the charges is 25 years, but prosecutors recommend no more than 12 years.
5. Sentencing is set for December 11, 2025, with Judge Paul A. Engelmayer presiding.
Description
Do Kwon , co-founder of Terraform Labs, has admitted to committing two crimes in the United States .
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