• Do Kwon misplaced a SGD 19.4 million deposit case at a Singapore penthouse after being fired from the Excessive Court docket.
• The posh unit was by no means bought and was subsequently resold by the property developer for SGD34.5 million.
• Kwon faces US charges and investor litigation associated to Terra-Luna’s $400 billion market collapse.

Do Kwon, co-founder of Terraform Labs, has tried to gather S$19.4 million (roughly $14.2 million) deposits paid to a Singaporean luxurious penthouse after the US Excessive Court docket dismissed his claims. Funds signify virtually half the acquisition worth of a complete of Singapore 38.8 million models for Sculptura Ardmore, a high-end residential venture alongside Orchard Highway.

Kwon had paid by means of his spouse in early 2022, months earlier than Terraus and Luna’s cryptocurrency collapse. The transaction included subsequent funds in complete of practically 50% of the acquisition value. Nonetheless, the sale was by no means accomplished, and the true property developer held the cash earlier than reselling the penthouse for S$34.5 million.

Property buying and selling particulars

The unit in query was a 7,600 sq. foot duplex on the nineteenth flooring, one in every of three penthouses within the improvement that started in 2012. A court docket submitting signifies that on Might 17, 2023, Kwon allowed his spouse to pay S$1,000 to train his buy choices. The acquisition needed to be accomplished by Might thirty first, however this didn’t occur. Lease and buy choices expired on June 22, 2023.

Throughout the identical interval, Kwon and his spouse additionally leased the property for 16 months beginning in February 2022, paying S$640,000 at a price of S$40,000 per thirty days. They did the renovation and continued to occupy the condo till July twenty fifth, 2023, a month after the top of the contract. The Excessive Court docket ordered them to pay extra months of hire, however refused the developer’s request for $90,000 for restore prices.

Associated: Do Kwon pleads responsible to fraud within the $40 billion TerraLuna collapse case

The ruling provides to Kwon’s authorized agenda following the collapse of the Terra-Luna ecosystem in 2022, erasing an estimated $40 billion in investor wealth. He was charged within the US in 2023 with 9 expenses. On August 12, 2025, he pleaded responsible to conspiracy and wire fraud, agreeing to confiscate $19.3 million and a number of belongings as a part of a plea discount. The decision is scheduled for December eleventh.