Do Kwon Requests Prison Sentence Reduced to Five Years

• Do Kwon’s attorneys are asking for no more than five years in U.S. custody.
• Prosecutors, by agreement, could ask for up to 12 years.
• The suspect has already spent nearly three years behind bars, half of them in Montenegro.

Terraform Labs co-founder Do Kwon believes that a fair punishment in the United States for the collapse of the Terra ecosystem would be five years in prison. This is stated in a statement of lawyers, which quotes Bloomberg agency.

The document notes that the defense side does not deny the guilt of Kwon, but considers the punishment of 12 years, proposed by prosecutors as part of the deal, excessive. The lawyers ask the court to take into account the time spent in “harsh conditions” in Montenegro.

Also Kwon agreed to confiscate more than $19 million and some real estate as part of the plea agreement.

Recall that in August, Kwon pleaded guilty to conspiracy and fraud for $40 billion using electronic communications and avoided trial. Before that, he was extradited to the U.S. from Montenegro, where Kwon was arrested and convicted of using a fake passport while wanted in a case in South Korea.

Kwon’s sentencing will be announced by U.S. Federal Judge Paul Engelmayer in Manhattan on Dec. 11. The government is expected to make its punishment recommendation soon, Bloomberg noted.

In South Korea, he faces up to 40 years in prison in the same case.