Do Kwon pleads guilty to defrauding investors over $40B Terra crash
Terraform Labs founder Do Kwon has pleaded guilty to wire fraud and conspiracy to defraud after the US charged him in 2023 over the $40 billion collapse of Terraform. Inner City Press reported the guilty plea at a New York court hearing today, where Kwon, dressed in a yellow prison jumpsuit, submitted his plea to Judge Engelmayer and waived his rights to trial. The plea follows months of requested extensions as both US prosecutors and Kwon’s legal team engaged in “productive talks.” In one hearing, it was suggested that a money laundering charge should be litigated in advance. Two years ago, the US charged Kwon with two counts of commodities fraud, two counts of securities fraud, two counts of wire fraud, two counts of conspiracy to commit said frauds, and one count of money laundering conspiracy. Do Kwon and US gov’t ask to delay legal filings for a third time Read more: Explained: SEC allegations against Do Kwon and Terraform Labs If found...