Do Kwon, co -founder of Terraform Labs, changed his call from a non -guilty on two charges of fraud and conspiracy against fraud.
According to a report on Tuesday from the US District Court in the southern province of New York (SDNY), Coone I waived His right to go to trial on two charges of nine charges he faces from the United States government and admitted to being guilty. The report reported with the public prosecutors will impose financial penalties on $ 19 million.
The two criminal charges can transfer a 25 -year prison sentence if it is submitted in a row, but the agreement will do the prosecutors of no more than 12 years. The KWON hearing was scheduled for December 11.
“It will be up to me to decide what a fair sentence for you,” Englander said on Tuesday, according to Ener City Press.
The co -founder of Terraform was accused in March 2023 of securities fraud, market manipulation, money laundering, and fraud on wires related to its role in the company. He appeared for the first time in the New York Court Hall in January after being delivered from Montenegro, and he admitted that he was not guilty of all charges and staying in the American reservation without a guarantee.
After the Terra 2022 crashed, the Koon place was largely unknown until the Montenegro authorities arrested him for using fake travel documents. Four months in prison spent in front of American officials and South Koreans, the Montenegro to deliver, which was complicated by the challenges in the lower courts in the country.
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Why Koon now admits guilt?
As of Tuesday, it was not clear why the co -founder of Terraform chose to change his call after seven months. According to the court’s files, American prosecutors were discussing “pre -trial requests and relevant cases” with KWON lawyers, but he was expected to go to trial in January 2026.
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