Singapore charges former Hodlnaut CEO Zhu Juntao over Terra collapse claims
CoinDesk
Singapore authorities have charged former Hodlnaut CEO Zhu Juntao with fraud for allegedly misrepresenting the firm's exposure to the TerraUSD collapse.Summary
Singaporean prosecutors have charged former Hodlnaut CEO Zhu Juntao with six counts of fraud by false representation. Allegations state that Zhu misled customers and employees regarding the firm's exposure to the 2022 TerraUSD collapse, claiming no losses despite the company having invested approximately $317 million of user funds into the Terra ecosystem. The collapse resulted in an estimated $189.7 million loss for Hodlnaut, eventually leading to its liquidation. Zhu faces up to 20 years in prison per charge and has disputed all allegations in court.
(Source：CoinDesk)