Ahead of Do Kwon's sentencing… U.S. court focuses on 'severity of punishment in South Korea'

Uk Jin

Summary

It reported that Terraform Labs co-founder Do Kwon's sentence in South Korea has emerged as a major concern for the U.S. court.
The U.S. prosecution has sought a 12-year sentence for Kwon, while his defense team said that in South Korea up to a 40-year sentence is possible.
The South Korean prosecution, which has continuously maintained an arrest warrant since the Terra·Luna incident, is expected to seek transfer after the U.S. sentence is served.

The trial of Terraform Labs co-founder Do Kwon, the main culprit in the 'Terra·Luna crash,' is scheduled for this week, and the sentence he could receive in South Korea has emerged as a major issue.

On the 9th (Korean time), according to FinanceFeed, U.S. Federal District Judge Paul Engelmayer additionally requested the prosecution and defense provide explanations of what charges Kwon could be indicted on in South Korea and what the statutory minimum and maximum sentences for those charges would be.

Currently, Kwon pled guilty in August this year to two counts related to the 2022 Terra·Luna collapse: wire fraud and conspiracy to commit wire fraud. The U.S. prosecution has sought a 12-year sentence for him.

Kwon's defense team said that even if a sentence in the U.S. is limited to serving time, he would be re-arrested immediately upon arrival in South Korea, and that in South Korea Kwon could be sentenced to up to 40 years. The South Korean prosecution has maintained an arrest warrant for Do Kwon since 2022 and is expected to seek his transfer after the U.S. sentence is served.

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