According to BlockBeats, on December 11, Terraform Labs founder Do Kwon will be sentenced in Manhattan court. Prosecutors are seeking a 12-year prison sentence, citing his guilty plea.
At a hearing presided over by Federal Judge Paul Engelmayer in the Southern District of New York, Do Kwon pleaded guilty to two charges of conspiracy to commit fraud and wire fraud. In January of this year, he pleaded not guilty to nine charges, including securities fraud.