SEC Demands Over $5 Billion From Terraform Labs And Do Kwon.

The SEC is going after Terraform Labs and its co-founder Do Kwon big time. After a verdict slammed them with guilt, the SEC filed for a whopping $5.2 billion in penalties.

After a jury found Kwon and TFL liable for defrauding investors on April 5, the SEC is seeking a final judgment. This could impose severe restrictions on Kwon's future activities and financially penalize both him and his company.

After a nine-day trial, Terraform Labs and its former CEO, Do Kwon, were found guilty of misleading investors in crypto assets. They violated the Securities Act 1933 by selling crypto assets without proper registration. Director of the SEC, Gurbir S. Grewal, supports the decision of the jury.

The United States Securities and Exchange Commission (SEC) is seeking to impose substantial monetary penalties on Terraform Labs and its co-founder, Do Kwon, following a civil case verdict. In an April 19 filing in the U.S. District Court of New York in the Southern District of New York, the SEC demands that about $4.7 billion

After a jury found Terraform Labs and Do Kwon liable for fraud in its case with the SEC, the commission filed a motion requesting $5.3 billion in disgorgement and civil penalties.