Do Kwon Requests Five-Year Sentence in US Before Facing 40 Years in South Korea

Terraform Labs co-founder Do Kwon has requested a US judge limit his sentence to five years as he faces an additional case in South Korea. Kwon contended that his time served and the penalties he has agreed to are already substantial.

In his court submission, he stated that applying a heavier sentence would be unjust, especially considering the consequences he has already endured. He pleaded guilty to charges of wire fraud and conspiracy after being extradited from Montenegro.

Under a plea deal, US prosecutors will not demand a sentence longer than 12 years, but Kwon’s legal team deems anything over five years as excessive. He has also consented to forfeit over $19 million and various properties.

Legal Challenges Continue in South Korea

Despite his legal currents in the US, Kwon’s troubles are far from finished. Prosecutors in South Korea are pursuing a separate case linked to the events surrounding the collapse of the Terra ecosystem, seeking a potential 40-year sentence.

His follow-up sentencing in the US is scheduled for December 11, overseen by Judge Paul Engelmayer in Manhattan, as the prosecution prepares its recommendations.

After the 2022 Terra collapse, Kwon’s location remained a mystery until he was arrested in Montenegro for using fake travel documents, serving four months there before being put through a complicated extradition process.

Further Legal Actions

Kwon isn’t the only prominent figure facing extensive prison time; Sam Bankman-Fried, the former FTX CEO, was sentenced to 25 years in prison and is currently appealing the decision, claiming unfair trial grounds.

Examine the fallout from the 2022 Terra crash and how it influenced Kwon’s extradition process here.

Explore more about the FTX saga and its implications.