Crypto king Do Kwon jailed for 15 years over $40bn stablecoin fraud
By Euronews with AP
Published on
Disgraced 34-year-old cryptocurrency mogul Do Kwon was sentenced on Thursday to 15 years in prison for a fraud that wiped out $40bn (€34.1bn) in value, devastated charities, and drove some investors to the brink of suicide.
Kwon, a Stanford graduate known by some as “the cryptocurrency king”, apologised after listening as victims — one in court and others by telephone — described the toll his scam had on their lives, including wiping out nest eggs and people’s entire retirement funds.
Judge Paul A. Engelmayer said at a daylong sentencing…
