Do Kwon, the South Korean co-founder of Terraform Labs, appeared in a New York court to face fraud charges related to the collapse of his cryptocurrency company. Kwon is accused of deceiving investors and inflating the value of Terraform's cryptocurrencies, resulting in over $40 billion in losses. He faces up to 130 years in prison if convicted.
NEW YORK – The South Korean co-founder of Terraform Labs appeared in a New York court on Thursday to face fraud charges stemming from the multi-billion-dollar collapse of his cryptocurrency company.- Advertisement -
US Attorney Daniel Gitner said the May 2022 crash of Terraform’s cryptocurrencies “erased over $40 billion in investor assets, causing devastating losses to countless investors in the United States and around the world.” Before his arrest in the tiny Balkan nation, he had been on the run for months, fleeing South Korea and later Singapore.
CRYPTOCURRENCY FRAUD INVESTORS TERRRAFORM LABS DO KWON
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Terraform Labs Co-Founder Do Kwon Arraigned on Fraud Charges in New YorkThe co-founder of Terraform Labs, Do Kwon, faces charges of fraud and other financial crimes following the collapse of his cryptocurrency firm, which resulted in billions of dollars in losses for investors.
Read more »
Do Kwon Pleads Not Guilty to US Fraud ChargesDo Kwon, the co-founder of Terraform Labs, pleaded not guilty to charges of securities fraud, wire fraud, commodities fraud, and money laundering conspiracy in a Manhattan federal court.
Read more »
Bitskwela, Sonic Labs launch Blockchain Student Alliance to fill blockchain education gaps in universitiesDespite the growing focus on blockchain in the Philippines, gaps persist in students' understanding and practical application of the technology, according
Read more »
One Earth Organics founder Tyff Short on leading the all-natural movementIT wasn't too long ago when most Filipinas depended their choice of beauty products on a single qualifier: was it imported?
Read more »
Stars come down for Beautederm founder Rhea Tan's birthday bashRhea Tan, founder of Beautéderm, recently celebrated her birthday with celebrity endorsers of her popular brand at Taupe by Chef Francis Tolentino in Taguig City.
Read more »
Isak Andic, founder of Spanish fashion brand Mango, dies in accident, aged 71SunStar Publishing Inc.
Read more »