Overview
- U.S. District Judge Paul A. Engelmayer imposed a 15-year term, exceeding prosecutors’ 12-year recommendation.
- The judge said Kwon’s conduct led to roughly $40 billion in real losses suffered by investors.
- Kwon previously pleaded guilty, admitting he concealed Terraform Labs’ financial problems, and he apologized to victims in court.
- He was arrested in Montenegro in March 2023 for using forged passports and was extradited to the United States in late 2024.
- Prosecutors say he will forfeit more than $19 million, and he still faces separate legal exposure in South Korea.