Wu said that according to Inner City Press, Do Kwon's admitted fraud scale reaches up to $40 billion, and over four years he publicly misled the market, fabricated stability mechanisms, and concealed support arrangements with Jump Trading, ultimately causing hundreds of thousands of investors to suffer significant losses; multiple victim letters show that they experienced severe economic and psychological consequences due to their mistaken belief that the project was "low risk." Considering his early guilty plea, assistance to Terra managers, and relatively lenient detention conditions, the judge ultimately ruled that a more deterrent sentence was necessary, sentencing him to 15 years in prison.
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Wu said that according to Inner City Press, Do Kwon's admitted fraud scale reaches up to $40 billion, and over four years he publicly misled the market, fabricated stability mechanisms, and concealed support arrangements with Jump Trading, ultimately causing hundreds of thousands of investors to suffer significant losses; multiple victim letters show that they experienced severe economic and psychological consequences due to their mistaken belief that the project was "low risk." Considering his early guilty plea, assistance to Terra managers, and relatively lenient detention conditions, the judge ultimately ruled that a more deterrent sentence was necessary, sentencing him to 15 years in prison.