Do Kwon arrested

[Lucius]

I'm telling you that in that country (as well as in most Balkan countries) everyone and everything has its price, and Montenegrin (Serbian) politicians are not the brightest when it comes to making enemies. I already wrote that according to Montenegrin law, the US has priority in extradition because they were the first to request it, but some people are obviously too stubborn to understand that. Let them just play smart, but when the US sends them a secret agent Jason Bourne, then they will see who they are kidding

In the meantime, a little recreation in the Parliament of Montenegro - maybe it's about Do Kwon

[zasad@]

Most likely, the issue of Do Kwon's extradition will be decided by the Constitutional Court. In my country, this is a very long undertaking, and since the Constitutional Court is very busy, cases can last for years, and if desired, this process can be extended. Stocking up on tons of popcorn

[zasad@]

Breaking News
https://fortune.com/2024/03/23/crypto-fugitive-do-kwon-montenegro-jail-terrausd-terraform-lab/

"South Korean crypto fugitive Do Kwon was released from prison in Montenegro early Saturday as the Supreme Court deliberates on extradition requests from US and South Korea.

“We released Do Kwon from prison as his regular prison term for traveling with fake papers ended,” prison director Darko Vukcevic said by phone. “Since he is a foreign citizen and his documents were withheld, he was taken for an interview to police directorate for foreigners, and they will deal with him further.” "

Will Do Kwon run away from Montenegro?

[safar1980]

Montenegro’s top court orders another review in the case of cryptocurrency mogul Do Kwon

PODGORICA, Montenegro (AP) — Montenegro’s top court said Friday it has overturned a decision to hand over a South Korean mogul known as “the cryptocurrency king” to his native country.

The move marks yet another twist in a months-long legal saga in the case of Do Kwon, the Terraform Labs founder arrested in Montenegro last year.

Both South Korea and the U.S. had requested Do Kwon’s extradition from Montenegro.

Montenegrin courts first had ruled in favor of the U.S. but the ruling was later overturned in favor of South Korea’s request. The Supreme Court said Friday that a lower court should repeat the procedure again and that the final decision lies with Montenegro’s justice minister.

Kwon was charged in the U.S. with fraud by federal prosecutors in New York over a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world.

[btc_angela]

@OmegaStarScream, there is some update on this case, as The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,"

"It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America," the statement said.

https://www.bbc.com/news/articles/cn7r8xr3v76o

It was not clear though when is Do Kwon going to be extradited in the United States to face criminals charges.

On the other hand, I think the US justice system will be more harsh that the South Koreans. And if found guilty, maybe 20 years for Do Kwon.

[zasad@]

@OmegaStarScream, there is some update on this case, as The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,"

"It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America," the statement said.

https://www.bbc.com/news/articles/cn7r8xr3v76o

It was not clear though when is Do Kwon going to be extradited in the United States to face criminals charges.

On the other hand, I think the US justice system will be more harsh that the South Koreans. And if found guilty, maybe 20 years for Do Kwon.

I think that Do kwon is of no use to anyone in the US if he gives his billions to the government.
Of all the crypto scammers, SBF is the only one with balls.
Why put someone in prison for 20 years if they are willing to give up all their cryptocurrency and cooperate with the government? The US government needs to give the right signals, my prediction is no more than 5 years in prison.

[btc_angela]

@OmegaStarScream, there is some update on this case, as The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,"

"It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America," the statement said.

https://www.bbc.com/news/articles/cn7r8xr3v76o

It was not clear though when is Do Kwon going to be extradited in the United States to face criminals charges.

On the other hand, I think the US justice system will be more harsh that the South Koreans. And if found guilty, maybe 20 years for Do Kwon.

I think that Do kwon is of no use to anyone in the US if he gives his billions to the government.
Of all the crypto scammers, SBF is the only one with balls.
Why put someone in prison for 20 years if they are willing to give up all their cryptocurrency and cooperate with the government? The US government needs to give the right signals, my prediction is no more than 5 years in prison.

So he arrived in the US on December 31. And according to court documents,

Kwon is charged with two counts of commodities fraud, for which he faces a maximum penalty of 10 years in prison for each count; two counts of securities fraud, for which he faces a maximum penalty of 20 years in prison for each count; two counts of wire fraud, for which he faces a maximum penalty of 20 years in prison for each count; two counts of conspiracy to commit commodities fraud, securities fraud, and wire fraud, for which he faces a maximum penalty of five years in prison for each count; and one count of money laundering conspiracy, for which he faces a maximum penalty of 20 years in prison. If convicted of all charges, Kwon faces a maximum penalty of 130 years in prison. A federal district court judge will determine any sentence based on the U.S. Sentencing Guidelines and other statutory factors.

https://www.justice.gov/opa/pr/do-kwon-extradited-united-states-montenegro-face-charges-relating-fraud-resulting-40b-losses

But I'm not sure if the US will give that huge sentencing on Do Kwon. So it could be the rest of his life in jail or US Justice system giving him light sentence of just up to 20 years.

[zasad@]

https://www.msn.com/en-us/crime/general/kwon-do-hyung-s-crypto-fraud-trial-set-for-january-2026-could-face-130-years/ar-BB1rcX7A
Kwon Do Hyung’s Crypto Fraud Trial Set for January 2026—Could Face 130 Years

"Bloomberg reported on Wednesday that the criminal trial of Kwon Do-hyung, the key figure in the collapse of cryptocurrencies Terra and Luna, is expected to take place in January next year in the United States.

Judge Paul Engelmayer of the Southern Federal Court of New York tentatively set the trial start date for January 26, 2026, during a pre-trial conference for Kwon’s case. The initial trial is anticipated to last four to eight weeks.

Kwon, who had been on the run since the Luna and Terra crash in May 2022, was apprehended on March 23 last year at Podgorica Airport in Montenegro while attempting to board a flight to Dubai. The U.S. and South Korea had indicted Kwon, but neither country had an extradition treaty with Montenegro, so they have been competing to secure his custody.

Expand article logo  Continue reading

On December 27 last year, the Montenegro Ministry of Justice ended the two-year-long confusion surrounding the extradition process by approving Kwon’s extradition to the United States."

____
So far, it's not good news. This year will bring us more interesting facts about Do Kwon and how many people he will testify against to avoid a life sentence.

[Z-tight]

But I'm not sure if the US will give that huge sentencing on Do Kwon. So it could be the rest of his life in jail or US Justice system giving him light sentence of just up to 20 years.

I also don't think he would get up to 130 years in prison, that was the same way they said sbf was facing a very long time in prison, but in the end he was only sentenced to 25 years in prison. If Do Kwon has useful information to give the authorities, then he will probably get a light sentence, because that has been the pattern for sometime now.

[zasad@]

But I'm not sure if the US will give that huge sentencing on Do Kwon. So it could be the rest of his life in jail or US Justice system giving him light sentence of just up to 20 years.

I also don't think he would get up to 130 years in prison, that was the same way they said sbf was facing a very long time in prison, but in the end he was only sentenced to 25 years in prison. If Do Kwon has useful information to give the authorities, then he will probably get a light sentence, because that has been the pattern for sometime now.

The trial is scheduled for January 2026. Co-operation in such cases takes several years. Dok Kwon and his lawyers have very little time to make all the necessary agreements with the government and turn in their associates. The co-operation may have started earlier. If there is a summary trial, it means Do Kwon made a deal, but if there is a jury trial, the sentence could be longer.

[Z-tight]

The trial is scheduled for January 2026. Co-operation in such cases takes several years. Dok Kwon and his lawyers have very little time to make all the necessary agreements with the government and turn in their associates.

Trial is going to start a year from now, i think they have time, however, it all depends on the kind of cooperation, that is what information Do Kwon can give the authorities and how valuable it would be to them. They may also want to make an example of Do Kwon and despite whatever he attempts to do to reduce his prison time, he could still get a very long time in jail.

[zasad@]

The trial is scheduled for January 2026. Co-operation in such cases takes several years. Dok Kwon and his lawyers have very little time to make all the necessary agreements with the government and turn in their associates.

Trial is going to start a year from now, i think they have time, however, it all depends on the kind of cooperation, that is what information Do Kwon can give the authorities and how valuable it would be to them. They may also want to make an example of Do Kwon and despite whatever he attempts to do to reduce his prison time, he could still get a very long time in jail.

The example with the exemplary flogging suggests that you are not in control of the situation and there is no point in communicating with you. What crypto user is going to cooperate with the U.S. government after that?

FTX's assets are now worth far more than all the debts, compensation and all the legal fees. Why is Sam in jail?

[zasad@]

Do Kwon Pleads for Five Years in Prison Over $40B TerraUSD Collapse: Report
https://www.financemagnates.com/cryptocurrency/do-kwon-pleads-for-five-years-in-prison-over-40b-terrausd-collapse-report/
Kwon pleaded guilty in August, avoiding a full trial, after being extradited from Montenegro.
His lawyers argue that the maximum 12-year sentence agreed in his plea deal is excessive.

"Sentencing Set for December
US District Judge Paul Engelmayer is scheduled to hand down Kwon’s sentence on December 11. The government is expected to submit its own recommendation before then, which could influence whether Kwon’s requested five-year term is granted."

___
American courts are the fairest in the world

[Lucius]

~snip~___
American courts are the fairest in the world

Say that you are guilty and pay a very generous fine and you will almost be free. DK should contact CZ and ask him for DT's number so they can agree on the price to get a pardon. The president likes such "enterprising people" who can help him with his crypto projects

[zasad@]

~snip~___
American courts are the fairest in the world

Say that you are guilty and pay a very generous fine and you will almost be free. DK should contact CZ and ask him for DT's number so they can agree on the price to get a pardon. The president likes such "enterprising people" who can help him with his crypto projects

Considering that Do Kwon has been in an American prison since the beginning of 2025, he has already served 1 year.
In the US, he could face 5-12 years in prison, and in South Korea, up to 40 years.
This is a great business opportunity for the US; it turns out it can become the world's center of justice

[safar1980]

Do Kwon Should Get 12 Years for ‘Colossal’ Crypto Fraud, US Says
Terraform Labs Pte. co-founder Do Kwon should be sentenced to 12 years in prison for the fraud that led to the TerraUSD stablecoin’s $40 billion collapse in 2022, US prosecutors said.

Calling Kwon’s fraud “colossal in scope,” the government told a New York federal judge in a late Thursday court filing that the crime merited a tough sentence. Prosecutors pointed out that Kwon’s lies to customers triggered a series of cascading crises in the crypto world, including the collapse of Sam Bankman-Fried’s FTX.

Kwon will be sentenced by US District Judge Paul Engelmayer on Dec. 11.

[philipma1957]

Do Kwon Should Get 12 Years for ‘Colossal’ Crypto Fraud, US Says
Terraform Labs Pte. co-founder Do Kwon should be sentenced to 12 years in prison for the fraud that led to the TerraUSD stablecoin’s $40 billion collapse in 2022, US prosecutors said.

Calling Kwon’s fraud “colossal in scope,” the government told a New York federal judge in a late Thursday court filing that the crime merited a tough sentence. Prosecutors pointed out that Kwon’s lies to customers triggered a series of cascading crises in the crypto world, including the collapse of Sam Bankman-Fried’s FTX.

Kwon will be sentenced by US District Judge Paul Engelmayer on Dec. 11.

I say he gets 7 years.

but I am merely guessing

[Lucius]

For direct damages of at least $40 billion and at least x3 more for indirect damages, 12 years is a disgraceful sentence for any judge who decided so. People who do such things should be an example for everyone else who thinks of such things, and that means that without 25 years in prison, nothing else makes sense.

[zasad@]

In Russia, for smaller losses, the prison sentence is 12-15 years or more. I looked at recent major criminal cases, where ministers received 14-year prison sentences for embezzlement and bribery.

It's difficult to compare, but the predicted sentence is 5-7 years, which is very short. And this will set a precedent in the US.

[Lucius]

~snip~
It's difficult to compare, but the predicted sentence is 5-7 years, which is very short. And this will set a precedent in the US.

I'm not sure, but I think the maximum sentence for what DK was charged with is 20 years in prison. Now it's just a matter of whether he has any people who are lobbying for him and trying to reduce the sentence, and considering how long the extradition took and that he fought with all his might to avoid his homeland, he obviously thinks that the sentence in the US will be much less.