April 5, 2024
Joel Khalili, Wired
Crypto Magnate Do Kwon Found Liable for Multibillion-Dollar Fraud
When Do Kwon’s crypto empire fell to pieces, tens of billions of dollars were wiped out. A civil jury in the US has found he lied to investors.
“Both strands of the SEC’s case were “extremely strong,” says Daniel Silva, a former US prosecutor and attorney at law firm Buchalter. “It’s easy when you have people lying. ‘Fraud’ is a fancy word, but really it’s just lying to gain property. And everyone understands lying is wrong—or at least that it can get you in trouble.”
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