Hi Guys,
It's Urgent #alert About $5.3 Billion !!!
SEC Wants $5.3 Billion From Terraform Labs, Do Kwon
Do Kwon and Terraform Labs are facing $5.3 billion in charges from the SEC as the LUNA founder awaits extradition
The US Securities and Exchange Commission (SEC) is seeking $5.3 billion from Terraform Labs and its founder Do Kwon.
$4.7 billion comes from Terraform Labs and Do Kwon's disgorgement and prejudgment interest, while additional civil penalties of $420 million and $100 million are being sought respectively.
In a motion filed on Friday with the US District Court for the Southern District of New York, the SEC also requested a ban on Do Kwon from serving as an officer or director of a securities issuer. Do Kwon must also provide details of all his accounts and assets.
Legal representatives for Terraform Labs and Do Kwon have filed briefs for a maximum civil penalty from Terraform Labs of $3.5 million and $800,000 from Do Kwon.
