Don't want ads? Subscribe or login now.

Terraform Founder Cops To $40B Crypto Fraud Scheme

By Stewart Bishop · August 12, 2025, 8:45 PM EDT

The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme that wiped...

To view the full article, register now.

Try a seven day FREE Trial

Already a subscriber? Click here to login

Case Information

Case Title

USA v. Kwon

Case Number

1:23-cr-00151

Court

New York Southern

Nature of Suit

Date Filed

March 23, 2023

Recent Articles By Stewart

September 09, 2025
Ariz. Developer, Son Get Prison For $280M Sports Park Fraud
May 08, 2025
Celsius Founder Gets 12 Years For Massive Crypto Fraud
February 19, 2025
Ex-Perella Weinberg Partner Denies Plot To Split Firm
January 06, 2025
Giuliani Held In Contempt In $148M Defamation Row
November 07, 2024
Ex-Celsius CEO OK'd To Seek Testimony From Abroad
October 22, 2024
Real Estate Exec Guilty Of $77M WeWork Stock Fraud
October 21, 2024
$77M WeWork Bid Was Fraud 'From Beginning To End,' Jury Told
October 15, 2024
Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told
July 16, 2024
Platinum Co-Founder Dodges Prison For Bond Fraud Rap
May 24, 2024
Exiled Chinese Businessman Is No $1B Fraudster, Jury Told