What Happened to Do Kwon? Fallen crypto mogul faces record jail time
In the eye of the law, everyone is equal. Every sin gets punishment one day and nobody can prevent it. But mostly in high-profile cases, the culprit gets bail as they use their contacts and money. But it is not necessary that every time a rich person gets saved from his crimes, the law of some countries is quite strict and they never discriminate against people on the basis of their status that is why a big shot is ready to spend his rest of the life behind the bars. Now, being a famous name, it is obvious for people to find the reason for his imprisonment.
What Happened to Do Kwon?
According to the reports, the infamous ex-crypto titan Do Kwon may spend most of his life in jail, 1st in his native South Korea and then in the United States. This information has been shared by the senior prosecutor of the Asian nation. According to the reports, both countries are looking for extradition on charges of Kwon connected to the collapse of digital tokens he created, an implosion that blew up at least US$40bil (RM184bil). The former Titan Do Kwon was detained in Montenegro in March, concluding a spell as a fugitive.
It is possible for the person to be tried and convicted in both distinct and jurisdictional charges, beginning with South Korea as stated by Dan Sunghan, who heads the investigation into the fallen businessman. DDan Sunghan is the director of the financial crime investigation bureau at the Seoul southern district prosecution service. He states during an interview with the news reporter that, The individual could then “be extradited to the United States and face court trial there, and then have the conviction executed in the United States and South Korea.
The 49-year-old expects Kwon to get the record domestic conviction for financial fraud cases that exceed 40 years. Branko Andjelic, the defense lawyer who aced for Kwon in Montenegro, could not be reached by phone for comment about the things stated by Dan. Well, for more information we need to wait. The culprit co-founded Terraform Labs Pte, which created a stablecoin called TerraUSD that was meant to have a constant US$1 (RM4.60) value through a mix of algorithms and trader incentives engaging the sister token Iuna. We are ending this news here, if you want to know more stay tuned with us and don’t forget to read our other articles and if you have any suggestions please inform us. We would love to hear. Till be safe.
