Mango Labs has filed a lawsuit against John Kramer and Maximilian Schneider, accusing them of embezzling $10 million from the Mango Decentralized Autonomous Organization (DAO).
John Kramer and Maximilian Schneider held fiduciary positions in the DAO and were accused of conspiring to illegally profit while they bought the DAO's MNGO governance tokens held by the bankrupt FTX on behalf of the DAO.
The lawsuit alleges breach of fiduciary duty and breaches of Puerto Rico's civil law provisions on damages, fraud/misrepresentation and unjust enrichment, and the group seeks monetary, "punitive and exemplary damages," as well as the return and forfeiture of improperly acquired funds, including interest and fees.
Mango Labs Sues DAO Members for Allegedly Misappropriating $10 million in Internal Funds
2024-10-10 22:18:01
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