{"id":34384,"date":"2025-01-03T15:00:55","date_gmt":"2025-01-03T12:00:55","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34384"},"modified":"2025-01-03T13:46:10","modified_gmt":"2025-01-03T10:46:10","slug":"do-kwons-new-indictment-includes-money-laundering-charge","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/do-kwons-new-indictment-includes-money-laundering-charge\/","title":{"rendered":"Do Kwon&#8217;s New Indictment Includes Money Laundering Charge!"},"content":{"rendered":"<ul>\n<li><a href=\"https:\/\/coinengineer.net\/blog\/terraform-labs-closes-operations-amid-bankruptcy\/\"><strong>Terraform Labs co-founder Do Kwon<\/strong><\/a> was charged with eight offenses in 2023 and is likely to face an additional money laundering charge.<\/li>\n<\/ul>\n<p><strong>The United States Attorney\u2019s Office<\/strong> revealed an additional charge for <strong>Terraform Labs co-founder Do Kwon<\/strong> following his extradition from Montenegro: money laundering conspiracy.<\/p>\n<p>In a new indictment filed on January 2 in the<strong> U.S. District Court<\/strong> for the <strong>Southern District of New York, U.S. Attorney Damian Williams<\/strong> alleged that Kwon conspired with others to commit money laundering.<\/p>\n<p>According to the<strong> U.S. Attorney<\/strong>, the Terraform co-founder facilitated transactions of over $10,000 on the platform, knowing that the property involved in certain financial transactions represented the proceeds of unlawful activity.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34385 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/do.jpg\" alt=\"do\" width=\"768\" height=\"432\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/do.jpg 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/do-300x169.jpg 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p>The money laundering charge was not initially part of the eight-count indictment filed against <strong>Kwon<\/strong> in March 2023. Prosecutors filed the indictment under seal in May 2024, and on January 2, a judge ordered the unsealing of the indictment during Kwon&#8217;s court appearance.<\/p>\n<p><strong>Kwon<\/strong>, who is alleged to have been involved in the 2022 collapse of the <strong>Terra ecosystem<\/strong>, was arrested and detained in <strong>Montenegro<\/strong> in 2023 for using falsified travel documents. Authorities from the <strong>U.S. and South Korea<\/strong> filed competing petitions to extradite the Terraform co-founder, but <strong>Montenegrin<\/strong> authorities did not make a decision on his legal status until December 2024, when Kwon was handed over to U.S. officials.<\/p>\n<h2>Will It Be A Court Trial or A Settlement Agreement?<\/h2>\n<p><strong>The Terraform co-founder<\/strong> appeared in court on January 2, pleaded not guilty to all charges, and agreed to remain in detention. It remains unclear whether U.S. authorities will consider a plea deal or move forward with the charges.<\/p>\n<p><strong>Kwon&#8217;s<\/strong> case is similar to that of <strong>former FTX CEO Sam &#8220;SBF&#8221; Bankman-Fried<\/strong>, another crypto executive who was subject to the jurisdiction of another country (the Bahamas) before being extradited to the U.S.<\/p>\n<p>In SBF&#8217;s case, his lawyers argued that a campaign finance charge added to a superseding indictment should be dropped, as it was not part of the extradition request.<\/p>\n<p><strong>Bankman-Fried<\/strong> was convicted on seven felony counts and sentenced to 25 years in prison, but he has filed an appeal.<\/p>\n<p><strong>Former Binance CEO Changpeng Zhao<\/strong> pleaded guilty to one charge and served four months in prison in 2024.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<span style=\"color: #ffcc00;\"><a style=\"color: #ffcc00;\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>,\u00a0<\/a><a style=\"color: #ffcc00;\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube,<\/strong><\/a><\/span>\u00a0and\u00a0<span style=\"color: #ffcc00;\"><a style=\"color: #ffcc00;\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0<\/span>channels for the latest\u00a0<span style=\"color: #ffcc00;\"><strong><a style=\"color: #ffcc00;\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0<\/strong><\/span>and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terraform Labs co-founder Do Kwon was charged with eight offenses in 2023 and is likely to face an additional money laundering charge. The United States Attorney\u2019s Office revealed an additional charge for Terraform Labs co-founder Do Kwon following his extradition from Montenegro: money laundering conspiracy. In a new indictment filed on January 2 in the<\/p>\n","protected":false},"author":29,"featured_media":34388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1880,22,10731,10730,5870,2869,1999,10727,5392,10725,10723,10724,7980,10729,10728,10726],"class_list":["post-34384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bankman-fried","tag-binance","tag-former-binance-ceo-changpeng-zhao","tag-former-ftx-ceo-sam-sbf-bankman-fried","tag-money-laundering","tag-montenegro","tag-south-korea","tag-southern-district-of-new-york","tag-terra-ecosystem","tag-terraform-labs-co-founder-do-kwon","tag-the-terraform-labs-co-founder","tag-the-united-states-attorneys-office","tag-u-s","tag-u-s-attorney","tag-u-s-attorney-damian-williams","tag-u-s-district-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Do Kwon&#039;s New Indictment Includes Money Laundering Charge! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/do-kwons-new-indictment-includes-money-laundering-charge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Do Kwon&#039;s New Indictment Includes Money Laundering Charge! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Terraform Labs co-founder Do Kwon was charged with eight offenses in 2023 and is likely to face an additional money laundering charge. 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