Do Kwon jailed for 15 years for massive $40B crypto fraud
Former cryptocurrency tycoon Do Kwon was sentenced on Thursday to 15 years in prison after the collapse of his $40 billion crypto empire exposed the entire system as fraudulent.
Victims told the court the 34-year-old fintech entrepreneur exploited their trust, assuring them their investments were secure while secretly sustaining the scheme with hidden cash injections, News.Az reports, citing CNN.
Kwon, a Stanford graduate once dubbed “the cryptocurrency king,” apologized after hearing emotional accounts from victims — some in the courtroom and others by phone — who described the devastating consequences of the fraud, including lost life savings, depleted charities, and shattered…
