The post SEC Raises Alarm Over Terraform Labs’ $166M Payment to Dentons Amid Bankruptcy appeared first on Coinpedia Fintech News
The U.S. Securities and Exchange Commission has raised significant concerns over Terraform Labs’ financial maneuvers, urging the Delaware bankruptcy court to scrutinize a $166 million payment to law firm Dentons.
Questionable Financial Moves
The SEC revealed a series of financial transactions, with Terraform Labs allegedly transferring $166 million to Dentons since the beginning of 2023. The SEC argues that these transfers may have been strategically executed to circumvent potential future liabilities that could have arisen from the SEC’s accusations of defrauding investors.
The Commission asserts that these funds have essentially been diverted into an “opaque slush fund for its lawyers,” raising concerns about the interests of investors and creditors seeking reimbursement in Terraform’s bankruptcy.
Legal Battle and Chapter 11 Ba
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