Summary
- US prosecutors have announced that they have added 'money laundering charges' against Kwon Do-hyung, the former CEO of Terraform Labs.
- Specifically, Kwon is accused of mediating transactions that led to illegal proceeds.
- If all charges are found guilty, it is expected that there will be massive asset forfeiture and a heavy sentence.
US prosecutors have added money laundering charges against Kwon Do-hyung, the former CEO of Terraform Labs, who is considered the main culprit in the 'Terra·Luna' incident.
On the 2nd (local time), the New York Southern District Prosecutors stated in the indictment, "Kwon Do-hyung conspired with others to commit money laundering. Kwon has been mediating transactions over $10,000, knowing that the assets involved in certain financial transactions were derived from illegal proceeds."
Meanwhile, the New York Southern District Prosecutors have brought Kwon to trial on a total of eight charges, including securities fraud, wire fraud, commodities fraud, and market manipulation conspiracy. If all the charges are found guilty, it is expected that he could face a heavy sentence along with the forfeiture of a massive amount of assets.
Doohyun Hwang
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