After an international manhunt, cryptocurrency tycoon Do Kwon was sentenced to 15 years in prison
An American court on Thursday sentenced the href=" Do Kwon was imprisoned for 15 years, after he was convicted of fraud and causing the loss of $40 billion in investor funds, according to what American media reported.
The sentence was issued on In a New York court, where he pleaded guilty last August after an international manhunt that included Asia and Europe and led to his arrest.
Cryptocurrency tycoon
Kwon, who was behind the boom of two cryptocurrencies in the past, is still facing fraud charges in his homeland, South Korea.
The 34-year-old Kwon launched the business through his company. "Terraform Labs"currency "Tera USD" Which it was marketed as "Stable coin"Kwon succeeded in marketing it as the currency of the future, attracting billions of dollars in investments and receiving wide global attention.
Kwon also received wide praise in the South Korean media, which described him as a"Genius"while thousands of individual investors flocked to pump their money into his company.
In 2019, Kwon’s name was included in Forbes’ list of the 30 best people under the age of 30 in Asia.
Currency "Tera USD"
But despite billions of dollars invested, the currency collapsed "Tera USD" And I followed her "Luna" In May 2022.
Experts said that Kwon established a brilliant pyramid scheme in which many investors lost their savings.
Kwon left South Korea before the collapse of his two currencies, where he spent months on the run before he was arrested in March 2023 at Podgorica Airport, the capital of Montenegro, before boarding a plane with a forged Costa Rican passport.
And last year, Montenegro extradited him to the United States.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
