In accordance with BitcoinSistemi, Terraform Labs founder Do Kwon has filed a request with a U.S. court to limit his prison sentence to a maximum of five years after pleading guilty to fraud in connection with the $40 billion collapse of the Terra-Luna ecosystem. His defense team argued that a five-year sentence would be sufficient and appropriate, citing Kwon's lack of personal financial gain and the pressures faced as a young founder. The prosecution had previously proposed a 12-year sentence. Kwon pleaded guilty in August to two fraud charges related to the TerraUSD (UST) and Luna token crash in May 2022. His sentencing is scheduled for December 11th.
Terraform Labs Founder Do Kwon Seeks 5-Year Maximum Sentence in $40B Terra Collapse Case
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