Do Kwon, founder of Terraform Labs, will plead guilty on several felony charges, including fraud, conspiracy, money laundering, and more.
These charges in total could bring a maximum sentence of 100 years. It’s presently unclear whether or not he intends to make a plea deal or rely on the mercy of the courts.
Do Kwon Pleads Guilty
Do Kwon, founder of Terraform Labs, has been wrapped in a series of legal battles since the collapse of the TerraUSD stablecoin and the Luna token in 2022. After his subsequent arrest in Montenegro and extradition to the US, he has faced a daunting series of nine federal charges. Today, he’s agreed to knuckle under:
Court reporters claimed that Do Kwon would avoid a trial altogether by entering a guilty plea ahead of time. Still, this is a very serious decision. If convicted of all nine charges, he could receive up to 100 years in prison.
Based on court documents, it’s unclear what his overall strategy is here. Guilty pleas are frequently part of a plan to testify against potential co-conspirators, but Do Kwon is the central figure of this incident.
His allocution will “incorporate all elements of the offense(s) to which [he] is pleading guilty,” but publicly available evidence doesn’t give us any more clues. For now, all we can say is that this landmark trial won’t play out as anticipated.
The post Terraform Labs Founder Do Kwon Will Plead Guilty to Fraud Charges appeared first on BeInCrypto.
Source link
