PANews reported on December 9th that, according to Finance Feeds, Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges. However, the presiding judge is urging prosecutors and defense lawyers to clarify his situation in South Korea. In documents filed Monday, U.S. District Judge Paul Engelmayer requested both sides to detail the charges and the "maximum and minimum sentences" Do Kwon could face if extradited to South Korea. In August, Do Kwon pleaded guilty to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn that caused significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the United States first, but questions raised by Engelmayer indicate that the court wants a full understanding of the concurrent criminal charges he faces in South Korea. The judge also asked both parties whether they agreed that “the time Do Kwon was detained in Montenegro” should not be counted towards any of his sentences in the United States. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to U.S. custody.PANews reported on December 9th that, according to Finance Feeds, Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges. However, the presiding judge is urging prosecutors and defense lawyers to clarify his situation in South Korea. In documents filed Monday, U.S. District Judge Paul Engelmayer requested both sides to detail the charges and the "maximum and minimum sentences" Do Kwon could face if extradited to South Korea. In August, Do Kwon pleaded guilty to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn that caused significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the United States first, but questions raised by Engelmayer indicate that the court wants a full understanding of the concurrent criminal charges he faces in South Korea. The judge also asked both parties whether they agreed that “the time Do Kwon was detained in Montenegro” should not be counted towards any of his sentences in the United States. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to U.S. custody.
The judge investigated the charges Do Kwon faces in South Korea before he is sentenced in the United States.
PANews reported on December 9th that, according to Finance Feeds, Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges. However, the presiding judge is urging prosecutors and defense lawyers to clarify his situation in South Korea. In documents filed Monday, U.S. District Judge Paul Engelmayer requested both sides to detail the charges and the "maximum and minimum sentences" Do Kwon could face if extradited to South Korea.
In August, Do Kwon pleaded guilty to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn that caused significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the United States first, but questions raised by Engelmayer indicate that the court wants a full understanding of the concurrent criminal charges he faces in South Korea. The judge also asked both parties whether they agreed that “the time Do Kwon was detained in Montenegro” should not be counted towards any of his sentences in the United States. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to U.S. custody.
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