Express
US Judge Requests Clarification on Do Kwon's Potential Sentence in South Korea, Focuses on Multi-Jurisdictional Legal Risks Before Sentencing
Summary: According to reports, Terraform Labs co-founder Do Kwon is set to be sentenced in New York this Thursday for two felonies (wire fraud and conspiracy to commit fraud) to which he has previously pleaded guilty. Prior to sentencing, US Federal Judge Paul Engelmayer has requested both the prosecution and defense to clarify the charges Kwon ...
According to reports, Terraform Labs co-founder Do Kwon is set to be sentenced in New York this Thursday for two felonies (wire fraud and conspiracy to commit fraud) to which he has previously pleaded guilty. Prior to sentencing, US Federal Judge Paul Engelmayer has requested both the prosecution and defense to clarify the charges Kwon may face in South Korea and the 'maximum and minimum sentences' he could receive there, in order to assess his multi-jurisdictional legal risks.
Court documents indicate that the judge wants to understand if Kwon, upon completing his US sentence and being extradited back to his home country, could be released early in South Korea, and how his time in custody there would be calculated. Kwon's lawyers have stated that if he is extradited to South Korea, he would re-enter pre-trial detention and, if convicted, could face up to 40 years in prison.
The documents also mention the judge inquiring whether both parties agree to not count the '4 months Kwon served in Montenegro' towards his US sentence, to avoid issues with double-counting time served across jurisdictions. Kwon was detained in Montenegro for using forged travel documents and spent over a year there fighting multiple extradition requests.
The US prosecutors are seeking a minimum of 12 years in prison, claiming the scale of his losses 'exceeds the combined losses of SBF, Mashinsky, and OneCoin's Greenwood'. The defense, on the other hand, suggests a sentence of no more than 5 years.
Do Kwon went missing after the collapse of Terra in 2022 and was arrested in Montenegro in 2023. He faces charges in both South Korea and the US, and is expected to undergo further detention and trial in South Korea after serving his sentence in the US. The judge is set to make an initial sentencing decision on Thursday, but the cross-jurisdictional nature of the case means it will continue to progress over the coming years. (Finance Feeds)
Tags:
Link: US Judge Requests Clarification on Do Kwon's Potential Sentence in South Korea, Focuses on Multi-Jurisdictional Legal Risks Before Sentencing [Copy]
