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Do Kwon Pleads Not Guilty on Nine Counts
In a dramatic turn of events, Do Kwon, the co-founder of Terraform Labs, has pleaded not guilty to nine charges related to the collapse of the Terra ecosystem in 2022. This move marks a significant development in the ongoing legal saga surrounding Kwon’s involvement in the catastrophic event.
According to reports, the indictments against Kwon were unsealed ahead of his arrival from Montenegro, expanding the accusations to include money laundering alongside the original charges of securities, commodities, and wire fraud. It is alleged that Kwon misled investors and regulators with deceptive claims about Terraform’s products, ultimately leading to the implosion of $40 billion in investments.
Kwon has been accused of orchestrating one of the most significant crypto frauds in history, with allegations suggesting that he constructed a “financial world built on lies and manipulative techniques.” This drastic downturn was not limited to financial losses, as it also sparked international investigations and legal actions from regulatory bodies.
Source: fullycrypto.com
