Do Kwon Apologizes, Requests 5-Year US Prison Term Before South Korea Transfer
Do Kwon Apologizes, Requests 5-Year US Prison Term Before South Korea Transfer
⚖️ Do Kwon's prison plea
Terra founder Do Kwon formally apologized to users who lost funds in the ecosystem collapse, asking a US court for no more than 5 years in prison.
Key developments:
- Kwon expressed deep regret: "I am deeply sorry for letting down the many users... who put their faith in me"
- His legal team requested the 5-year limit so he can serve remaining time in South Korea near family
- Jump Trading relationship disclosed - Kwon admitted failing to publicly reveal Jump's support during the 2021 UST de-peg crisis
- Attorneys described Kwon as being in a "loop of regret"
What's next: Kwon faces separate legal proceedings in South Korea after completing any US sentence. The court filing represents his attempt to minimize US prison time while acknowledging responsibility for the Terra ecosystem's collapse that wiped out billions in investor funds.
NEW: Terra founder Do Kwon and his legal team ask for no more than 5 years in US prison before he's sent to South Korea to face justice there Kwon opens his submission with an apology: "I am deeply sorry for letting down the many users ... who put their faith in me."
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