The world’s biggest cryptocurrency criminal could be jailed for 40 years

Terraform Labs founder До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665">Do Kwon may be sentenced to prison in South Korea and then in the United States. Dan Sunghan, the head of the investigation into Kwon’s case, told Bloomberg that the former head of Terraform Labs will serve the maximum sentence of 40 years in prison for financial fraud.

According to Sunghan, Do Kwon will be sentenced in several jurisdictions at once, but first in South Korea. «He can be extradited to the United States, where he will stand trial, and then the sentence can be executed in both South Korea and the United States,» Sung-han said.

According to him, prosecutors have already seized 246.8 billion won ($ 190 million) in the Kwon case and are going to freeze another 31.6 billion won ($ 24.25 million). «This is the largest financial or securities fraud case ever to take place in South Korea ,» Dan Sung-han emphasized.

on April 20, Montenegrin authorities charged Do Kwon and his business partner after they were detained at the airport on March 23. They tried to leave Podgorica for Dubai with forged documents. As a result, the local prosecutor’s office accused the former head of Terraform Labs of forging official documents and filed a motion to extend the period of detention of Kwon and his partner Han Chang-joon.

A few days ago, the Court of First Instance of Montenegro granted the motion to release Kwon and Jung on modified conditions. Bail in the amount of 400,000 euros was approved again, according to lawyer Branko Angelic.