The founder of Terraform Labs Do Kwon could change his “non -guilty” plea before the Federal Court tomorrow, a judge said on Monday.
District judge Paul Engelmayer, from the South District of New York, planned a hearing on Tuesday morning in a prescription saying that he was informed that the defendant could enter a change of plea. ” Kwon had previously pleaded “not guilty” with several accusations of fraud and market manipulation linked to the operation and the subsequent collapse of the Terraform Terraforms Terra / Lunacoin ecosystem.
Kwon was extradited to the United States at the end of 2024 following a long back and forth with different Montenegrin authorities. Kwon was detained in Montenegro after an attempt to travel on a false passport.
A trial was temporarily set for next January, after the prosecutors said they had to examine six data of data during the discovery. Monday, the order of judge Engelmayer did not specify whether Kwon would plead guilty to all the accusations or if the prosecutors had concluded an agreement with the defense team. His order said that defense lawyers “should, before the procedure, re -examine with the defendant any advocacy agreement or a Pimentel letter”.
Kwon and Terraform have already been tried responsible for civil fraud in a case filed by the Securities and Exchange Commission of the United States, and ordered to pay $ 4.5 billion in penalties and respect.
The Terra Network, once more than $ 18 billion, collapsed in a few days after the Stablecoin Algorithmic Terrausd lost her ankle and his Luna companion token (Luna) lost most of its value.
A kwon lawyer did not immediately return a request for comments.
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