Singapore Court Denies Do Kwon’s $15M Luxury Penthouse Claim Amid Legal Troubles

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2025-09-08 15:45:02

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Terraform Labs founder Do Kwon has lost his bid to reclaim a $15.1 million down payment for a luxury Singapore penthouse after failing to complete the purchase due to ongoing criminal charges. The Singapore High Court ruled in favor of the property developer, awarding additional compensation for an overstayed lease by Kwon's wife.

The disputed property—a four-bedroom penthouse in the Sculptura Ardmore complex—was slated to become an iconic feature of Singapore's skyline. Kwon had initially paid 50% of the purchase price, including $31,150 monthly rent, before Terra's collapse derailed the transaction. His attempt to finalize the deal with a nominal $778 payment in May 2023 was never executed.

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