Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges, but the presiding judge is urging prosecutors and defense lawyers to clarify what they will face in South Korea.
In a filing on Monday, US District Judge Paul Engelmayer asked both sides to elaborate on the charges and the "maximum and minimum sentences" that Do Kwon could face if extradited to South Korea. Do Kwon pleaded guilty in August to telegraphic transfer fraud and conspiracy to commit fraud. The charges stem from his role in the 2022 collapse of Terraform Labs, the company's stablecoin and tokens, which triggered a broader market downturn and caused significant losses to the crypto industry.
Mr. Do Kwon is expected to serve his sentence in the US first, but Mr. Engelmayer's questions suggest the court wants a full picture of the parallel criminal charges he faces in South Korea. The judge also asked whether the two sides agreed that "neither of the time that Do Kwon was detained in Montenegro" - where he spent four months fighting extradition for using forged travel documents - should count towards any of his US sentences.
Judge investigates charges against Do Kwon in South Korea before he receives U.S. sentencing
2025-12-09 00:48:33
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