Do Kwon Sentences 15 Years for $40B Crypto Fraud
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Do Kwon got 15 years in prison. This was after a big crash that lost $40 billion. People said he used their trust to trick them into unsafe investments.
Kwon went to Stanford and was called a 'crypto king'. He said sorry after hearing from the victims. Victims lost their savings and retirement money because of the scam.
The judge thought 12 years was too short a sentence. He also thought 5 years was too long. Kwon could have gotten 25 years in prison.
The judge said Kwon caused people to lose a lot of money. He called it a huge fraud. The judge also said Kwon had a strong hold on investors and caused much damage.
Kwon admitted he was guilty of fraud from Terraform Labs' collapse. This firm was in Singapore. Prosecutors stated that he lost more than others like Sam Bankman-Fried.
Questions
How many years did Do Kwon get in prison?
Do Kwon got 15 years in prison.
What did Kwon say after hearing from the victims?
Kwon said sorry after hearing from the victims.
What did the judge think about Kwon's prison sentence?
The judge thought 12 years was too short and 5 years was too long.
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