Judge investigates the charges Do Kwon faces in South Korea before his sentencing in the US

Mars Finance reported, citing Finance Feeds, that Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges. However, the presiding judge is urging both the prosecution and defense attorneys to clarify the situation he will face in South Korea. U.S. District Judge Paul Engelmayer, in a document filed on Monday, requested both parties to detail the nature of the charges and the “maximum and minimum sentences” Do Kwon could face if extradited to South Korea. In August, Do Kwon admitted to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn, causing significant losses to the entire crypto industry. Do Kwon is expected to serve his sentence in the United States first, but Engelmayer’s questions indicate that the court seeks a comprehensive understanding of the parallel criminal charges he faces in South Korea. The judge also asked both parties whether they agree that “the period Do Kwon was detained in Montenegro” should not be credited toward any sentence he serves in the United States. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year contesting extradition before being transferred to U.S. custody.