Do Kwon Fraud Trial Will Start on January 2026 in the US
The criminal fraud trial of Terraform Labs co-founder and former CEO Do Kwon is tentatively scheduled for January 2026 in the United States.
This timeline considers the processing of 6 TB of data as part of the discovery phase.
Plenty of evidence against Daoquan
period hearing In Manhattan, prosecutors highlighted significant delays caused by challenges in evaluating evidence. Prosecutors are reportedly trying to decrypt four mobile phones obtained from Montenegrin authorities and translate key documents into Korean.
Chief Prosecutor Jared Lenow explained that accessing encrypted information from these devices remains a major obstacle. The phones were handed over when Quan was extradited to the United States on December 31, 2024.
last week, Do Kwon pleads “not guilty” Nine-count indictment. The charges include securities fraud, wire fraud, commodities fraud and money laundering conspiracy.
The charges come from $40 billion Collapse of the Terra/LUNA Ecosystem 2022.
“Terra Founder Do Kwon currently faces a maximum penalty of 130 years in prison. The criminal charges detailed in the DOJ’s 79-page indictment include new charges that are not part of the SEC’s civil trial. The reason this case is more interesting than the SBF/FTX case is that it applies more directly to crypto projects and founders’ experiments. Decentralized Finance,” wrote Zack Guzmán is a journalist who interviewed Kwon.
Quan Extradition from Montenegro The deal was finalized on New Year’s Eve after Justice Minister Bojan Bozovic approved the U.S. request. The decision is based on the following legal criteria: Benefit from U.S. jurisdiction Beyond Korea.
Meanwhile, his trial is expected to be similar to Sm Bankman-Fried of FTX. However, Kwon’s charges were more severe, and the number of victims was far more than the perpetrators. FTX crashes.
Bankman-Fried is currently Serve 25 years in prison. However, the Terraform Labs founder could face a tougher sentence if found guilty next year.
In June 2024, Terraform Labs reached Settlement with SEC. The agreement requires the company to pay a $4.47 billion fine. This includes $3.6 billion in forfeiture penalties, $420 million in civil penalties and $467 million in prejudgment interest.
Quan was also ordered to personally pay more than $200 million, including $110 million in forfeitures, $80 million in civil penalties and $14.3 million in interest.
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