TERRA co-founder DO KWON admits to fraud and conspiracy charges, will pay $19 million in fines and faces up to 12 years in prison

🔹 Terraform Labs co-founder Do Kwon has changed his plea to guilty, admitting to two counts of fraud and conspiracy to commit fraud, agreeing to pay a $19 million fine and face up to 12 years in prison.

🔹 If he serves consecutively, Do Kwon could face a maximum of 25 years in prison, but the agreement stipulates that the prosecutor's recommended sentence shall not exceed 12 years.

🔹 Sentencing hearing scheduled for December 11.

🔹 Do Kwon has been charged since March 2023 in connection with the 2022 Terra collapse incident, he was arrested in Montenegro for using false documents, subsequently extradited to the United States and detained without bail.