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South Korea Eyes Trial for Do Kwon After 15-Year U.S. Sentence

Prosecutors in Seoul signal an independent case under the Capital Markets Act should he be transferred after serving half his U.S. term.

Overview

  • U.S. District Judge Paul A. Engelmayer sentenced Kwon to 15 years on Dec. 11 and ordered $19 million in forfeiture, exceeding prosecutors’ 12-year recommendation.
  • Under his August plea deal, U.S. prosecutors agreed not to oppose an International Prisoner Transfer Program request once he completes half of his sentence.
  • The Seoul Southern District Prosecutors’ Office holds a 2022 arrest warrant, and a senior prosecutor said a Korean conviction could top 30 years.
  • Korean authorities estimate about 200,000 domestic victims with losses near 300 billion won, and prosecutors say a domestic trial could better support compensation.
  • Timing of any transfer and the sequencing of proceedings remain unresolved, while roughly ten alleged accomplices continue facing trial in Seoul.