Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

Terraform Labs made a suspicious payment of $166 million to the company's lawyers

Market and Events: Terraform Labs made a suspicious payment of $166 million to the company's lawyers

The U.S. Securities and Exchange Commission (SEC) has discovered suspicious financial transactions at bankrupt Terraform Labs. The Block reported that $166 million was transferred to the company's legal representatives.

The SEC filed a motion in Delaware bankruptcy court to keep law firm Dentons U.S. LLC out of the proceedings. The law firm was previously alleged to have been involved in diverting funds that were to be used to fulfill legal obligations.

Approximately 90 days before the bankruptcy filing, #TerraForm Labs paid Dentons U.S. LLC $122 million and added another $44 million, and the SEC suspects these funds were diverted to undisclosed accounts because of a potential legal conflict with the SEC.

More than half of the funds have already been used to cover legal fees, leaving $81 million in the hands of Dentons U.S. LLC, which the SEC says cannot act on behalf of the defendants until the misappropriated funds are returned.

The #SEC emphasizes that some of the funds were used to pay for consulting fees in connection with the extradition case of Do Kwon, former CEO of Terraform Labs, from #Montenegro.

Recent developments indicate that #Do Kwon may not be ready for the start of his #fraud trial due to the delay in his extradition to the US.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Make crypto bots for trading
Press Releases: EvoSim Universe, A Novel Mobile-Data Monetisation App, Reaches 10,000 Unique Wallet Addresses, Accelerating Adoption Across the Globe
Dubai, United Arab Emirates, 15 July – EvoSim Universe has reached a significant milestone, with 10,000 unique wallets now registered on its platform..
Press Releases: Exploring Demo Trading in Cryptocurrency: A Guide for Beginners from Exchange
In the fast-paced world of cryptocurrency trading, where fortunes can be made or lost in minutes, demo trading stands as a crucial tool for both beginners and experienced traders alike..
Press Releases: Mind Network Alpha Mainnet Launch: A Fully Homomorphic Encryption Driven Restaking Layer for AI and POS Networks
We are excited to announce the Alpha Mainnet launch of Mind Network, a Restaking Layer that leverages Fully Homomorphic Encryption (FHE) technology and is designed to enhance the security..
Press Releases: Brett Launches its $BRETT Memecoin on TON Blockchain With a Splash of Fun and Humor
Brett, a leading memecoin sensation platform, has announced the launch of its $BRETT memecoin on TON (The Open Network) blockchain, inspired by Matt Furie’s quirky character, Brett..