The Largest Financial Settlement in SEC History
Earlier in June 2024, Terraform Labs reached a settlement with the SEC, agreeing to pay $4.47 billion. The settlement included $3.6 billion in disgorgement fines, a $420 million civil penalty, and $467 million in pre-judgment interest.
Also, Do Kwon himself was ordered to pay over $200 million in penalties. This included $110 million in disgorgement fines, $80 million in civil penalties, and $14.3 million in interest.
Meanwhile, reports have surfaced about Kwon’s alleged political connections in Montenegro. In 2023, the country’s prime minister called for an investigation into claims that Kwon had financial ties to a political rival.
Kwon reportedly supported the Europe Now party, led by Milojko Spajic. His backing raised questions about potential influence over the extradition process.
Overall, the court’s decision has brought Kwon closer to facing justice while highlighting the challenges of international legal coordination in the crypto space.
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Publish date : 2024-12-25 18:23:00
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