US authorities prosecutors have requested a decide to condemn Do Kwon to a minimum of 12 years in jail for Terraform Labs’ position within the fraudulent Terra/Luna system.
State Legal professional Jay Clayton filed the sentencing submission final evening, arguing that Kwon’s “colossal” fraud, his makes an attempt to shirk accountability by way of a brazen string of lies, and the “sheer” lack of funds concerned, warrant the prolonged sentence.
“The magnitude and severity of Kwon’s crimes are difficult to overstate,” Clayton argued, including that his “misconduct, the consequences of his crime, and his reaction to the discovery of his scheme all warrant a substantial prison term.”
Earlier this week, Kwon’s legal professionals requested a five-year sentence. Bloomberg reviews that his authorized group argued that the 12 years is “far greater than necessary” to realize justice.
They famous that the Terraform founder nonetheless faces one other trial in South Korea which carries a possible 40-year jail sentence.
Moreover, they argued that he’s already served three years “with more than half that time in brutal conditions in Montenegro,” and has agreed to a $19 million forfeiture.
Prosecutors declare Kwon is ‘underselling’ his crimes
US prosecutors argue that Kwon’s request for a sentence of simply 5 years is “utterly insufficient.”
“In support of his request, Kwon undersells the gravity of his crimes, and he oversells the certainty of his conviction and sentence in connection with the pending charges in Korea,” prosecutors claimed.
Clayton argues that regardless of the potential sentence in Korea, Kwon has “painstakingly avoided factual concessions related to that case, rendering the outcome of those proceedings both unknown and unknowable.”
“Let it be clear: the half-truths, evasion, and outright lies were Kwon’s. They cannot be diminished or excused by shifting blame to the trading firm, Kwon’s attorneys, third-party trading firms, Montenegrin officials, or investors,” the sentencing submission reads.
Along with the 12-year sentence, US prosecutors requested the court docket to uphold the $19 million forfeiture that Kwon agreed to in his plea deal. He’s nonetheless scheduled to be sentenced on December 11.
