Do Kwon expected to plead guilty in crypto collapse case
Neither lawyers for Kwon nor the Manhattan US Attorney's office, which brought the charges, immediately responded to requests for comment.DO KWON SET TO CHANGE PLEADefence attorneys are expected to go over the plea deal with Kwon before the hearing and help him prepare a narrative allocution that clearly outlines the offenses he plans to plead guilty to. The court has encouraged the defence counsel to assist in drafting a statement that can be read openly during the proceedings.Do Kwon's legal situation intensified after his extradition from Montenegro. He had been held there for over a year following an arrest for attempting to board a flight using forged travel documents. His troubles began with the dramatic failure of his Terra USD and Luna cryptocurrencies, which triggered devastating losses for countless investors.Federal prosecutors in Manhattan have charged him with a sweeping set of offences which include securities fraud, wire fraud, commodities fraud, and conspiracy.- EndsWith inputs from Reuters Must Watch
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