According to Foresight News, Reuters reported that Terra founder Do Kwon pleaded not guilty to fraud charges after being extradited to the United States on December 31. Manhattan federal prosecutors released a nine-count indictment accusing Kwon of securities fraud, wire fraud, commodity fraud and conspiracy to launder money. Robert W. Lehrburger, a district judge in the Southern District of New York, ordered Kwon to be detained and is expected to appear in court again on January 8.