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Terra/Luna founder Do Kwon has also reached a plea deal, pleading to two of nine original charges in connection to the $40 billiona collapse of his stablecoin scheme in 2022 [I73]. He faces a maximum sentence of five years on a wire fraud charge and up to twenty years on a fraud conspiracy charge, which could run consecutively. If Kwon accepts responsibility and doesn’t commit new crimes, the government will push for no more than a twelve year sentence (though the judge isn’t required to accept the government’s suggestion). Kwon has also agreed to forfeit some properties and up to $19 million, and pay restitution.6 He also still faces charges in South Korea.
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Terra/Luna founder Do Kwon has also reached a plea deal, pleading to two of nine original charges in connection to the $40 billiona collapse of his stablecoin scheme in 2022 [I73]. He faces a maximum sentence of five years on a wire fraud charge and up to twenty years on a fraud conspiracy charge, which could run consecutively. If Kwon accepts responsibility and doesn’t commit new crimes, the government will push for no more than a twelve year sentence (though the judge isn’t required to accept the government’s suggestion). Kwon has also agreed to forfeit some properties and up to $19 million, and pay restitution.6 He also still faces charges in South Korea.
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