What specific fraud charges do the US authorities have against Do Kwon?

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United States Authorities Charge Do Kwon with Eight Counts, Including Securities and Wire Fraud

US authorities have formally charged Do Kwon with eight counts of fraud, encompassing both securities fraud and wire fraud. These charges stem from allegations that Kwon orchestrated a multi-billion-dollar cryptocurrency asset securities fraud. The indictment follows a civil lawsuit previously filed by the US Securities and Exchange Commission against the fugitive crypto entrepreneur.
Allegations of Orchestrating a Multi-Billion-Dollar Fraud

Kwon is accused by US authorities of masterminding a large-scale fraud involving cryptocurrency assets, with the scale of the alleged scheme estimated to be in the billions of dollars. This accusation forms the basis of the securities fraud charges levied against him. The collapse of his company's related cryptocurrencies, TerraUSD and Luna, last year, which led to an estimated US$40 billion loss for investors, is central to these allegations.
Securities Fraud Charges Detailed

The securities fraud charges specifically relate to Kwon's alleged deceptive practices in the marketing and operation of cryptocurrency assets that are considered securities. The US Securities and Exchange Commission's prior lawsuit laid the groundwork for these criminal charges, highlighting the alleged misrepresentations and fraudulent activities. The precise details of how Kwon allegedly manipulated or misrepresented these crypto assets to defraud investors are encompassed within these charges.
Wire Fraud Charges Included

In addition to securities fraud, Kwon faces charges of wire fraud. This charge typically indicates the use of interstate or international wire communications in furtherance of a fraudulent scheme. The indictment suggests that electronic communications were employed as part of the alleged multi-billion-dollar fraud orchestrated by Kwon, connecting his alleged actions to the use of such communication channels.

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What specific fraud charges do the US authorities have against Do Kwon?

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