Do Kwon argues 5-year sentence is appropriate for Terra fraud

Terraform Labs co-founder Do Kwon has argued that a prison sentence of five years or less is appropriate for U.S. fraud charges related to the 2022 collapse of TerraUSD (UST), Bloomberg reported. In a sentencing memorandum filed with the U.S. District Court for the Southern District of New York, Kwon's lawyers called the prosecution's request for a 12-year sentence excessive. The defense noted that Kwon has already been detained for about three years, a significant portion of which was spent in very poor prison conditions in Montenegro. His lawyers also stated that his agreement to disgorge over $19 million and forfeit assets should be taken into account. A final sentence is scheduled to be determined on Dec. 11.