Terraform Lab Agrees to Pay $4.47 Billion Penalty in SEC Civil Case – Bloomberg

The SEC on Wednesday asked a federal judge in New York to approve the settlement. The deal was reached after a jury in April found Terrform and co-founder Do Kwon liable for fraud following a two-week civil trial. Kwon still faces a criminal case over the sale of the firm’s UST stablecoin.

Terraform will pay about $3.59 billion plus interest and a $420 million penalty, while Kwon will pay $204.3 million, including $110 million in disgorgement, interest and an $80 million penalty, a court filing showed. Kwon also must transfer at least $204.3 million to the Terraform bankruptcy estate for distribution to investors, and will be barred from serving as an officer or director of a public company, according to the settlement.

Source: Terraform Lab Agrees to Pay $4.47 Billion Penalty in SEC Civil Case – Bloomberg