Do Kwon faces eight counts, including wire fraud, commodities fraud, securities fraud, and conspiracy to defraud and engage in market manipulation.
Do Kwon, a South Korean national, faces eight counts, including wire fraud, commodities fraud, securities fraud, and conspiracy to defraud and engage in market manipulation.
The indictment also said he made false and misleading statements in a television interview and on social media about the alleged scheme. Kwon’s arrest comes after the US Securities and Exchange Commission in mid-February charged Terraform Labs and Kwon with orchestrating a multi-billion dollar crypto asset securities fraud.
The crash of UST and its sister token Luna triggered the fall of many cryptocurrency firms, including prominent ones such as hedge fund Three Arrows Capital, Singapore lender Hodlnaut, brokerage Voyager Digital and lender Celsius Network.
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