Do Kwon was extradited to the US and 'appeared in court for the first time', pleaded not guilty, and the prosecution added charges of conspiring to commit Money Laundering

Terraform Labs co-founder Do Kwon was extradited to the United States for trial, and was additionally charged with a new Money Laundering conspiracy charge, and Don Kwon, who faces a total of 9 felonies, pleaded not guilty to all charges at his first court appearance on the 2nd and agreed to be detained, and it is still uncertain whether he will reach a guilty plea agreement or enter a criminal trial. (Synopsis: Do Kwon has been extradited to the United States!) Facing $40 billion LUNA fraud charges) (background added: Finally? Montenegro's Ministry of Justice ordered Do Kwon to be extradited to the United States, and Terra's founder's dream of returning to South Korea was shattered) AlgorithmStable Coin TerraUSD (UST) and LUNA thunderstormed in May 2022, and the $40 billion Market Cap approached zero in a very short period of time, causing a large number of investor losses, and Terraform Labs co-founder Do Kwon was subsequently charged with 8 felonies in the United States in 2023 He was arrested in Montenegro for forging travel documents. Do Kwon on additional charges The governments of the United States and South Korea have filed requests for the extradition of Do Kwon, Montenegro did not make a final decision to hand him over to the United States until December 2024, and according to Cointelegraph, after Do Kwon was extradited to the United States, he was additionally charged with a new charge, namely conspiracy to pay Laundering. In the additional indictment released by the U.S. District Court for the Southern District of New York on the 2nd, prosecutors accused Do Kwon of conspiring with others to carry out Money Laundering activities, knowing that transactions of more than $10,000 involved illegal gains, but still facilitated these financial transactions. The Money Undering charges were originally not included in the eight March 2023 charges against Do Kwon for merchandise fraud, online fraud, and conspiracy to manipulate the market, as part of a supplementary indictment. Prosecutors filed the indictment in secret in May 2024 and were unsealed by a judge when Do Kwon appeared in court on the 2nd. Do Kwon pleaded not guilty in court Do Kwon made his first appearance in the Southern District Court of New York on the 2nd, pleading not guilty to all charges before U.S. District Judge Robert Lehrburger, filing a plea of not guilty, and agreeing to be detained without bail. The next court hearing is scheduled for the 8th, when the defense and prosecution will share evidence and discuss relevant motions before trial. Cointelegraph noted that it is unclear whether U.S. prosecutors will next consider a plea agreement with Do Kwon or move forward with a criminal trial. The Do Kwon case is similar to that of former FTX CEO Sam Bankman-Fried (SBF), who was detained in the Bahamas and later extradited to the United States, before SBF lawyers successfully argued that one campaign finance charge in the joinder indictment should be dropped because one of the campaign finance charges in the additional indictment was not within the scope of the extradition request, SBF was eventually convicted of seven felonies and sentenced to 25 years in prison, but he has appealed. Changpeng Zhao, the founder and former CEO of CoinAn, pleaded guilty to one charge in 2024 and was released after serving four months in prison. Related reports Is it true this time? Montenegrin court rules Do Kwon to extradite back to South Korea The SEC requires Terra and Do Kwon to pay a huge fine of $5.3 billion, and the extradition result is undetermined Do Kwon fugitive accomplice? Montenegro's prime minister was revealed to be an early investor in Terra, holding 750,000 LUNA "Do Kwon was sent to the United States to plead not guilty, prosecutors indicted additional conspiracy Money Laundering" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".