The founder of Terraft Labs, Do Kwon, can change his declaration of “non -guilty” in the Federal Court tomorrow, a judge said on Monday.
The district judge Paul Engelmayer, from the Southern District of New York, scheduled a hearing for Tuesday morning in an order that said he had been “informed that the defendant can participate in a change of declaration.” Kwon previously declared “non -guilty” of multiple charges of fraud and market manipulation linked to the operation and subsequent collapse of the Ecosystem of Terra/Luna Stablecoin.
Kwon was extradited to the US. At the end of 2024 after a length and long with different montenegrin authorities. Kwon was arrested in Montenegro after an attempt to travel in a false passport.
A trial was tentatively established for next January, after prosecutors said they needed to examine six data terabytes during the discovery. Judge Engelmayer’s order on Monday did not specify whether Kwon would declare guilty of all charges or if the prosecutors had reached an agreement with the defense team. His order said that defense lawyers “should, before the procedure, review with the accused any guilt agreement or Pimentel letter.”
Kwon and Terraft have already been considered responsible for civil fraud in a case presented by the US stock and values commission. UU., And they were ordered to pay $ 4.5 billion in fines and ascent.
The Terra Network, once a value of more than $ 18 billion, collapsed in a matter of days after the stablecoin terrausd algorithmic He lost his peg and his co -fellow token moon (Moon) lost most of its value.
A Kwon lawyer did not immediately return a request for comments.
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