Legal Dispute Over Mantra Chain Financial Details

The High Court of Hong Kong has mandated the disclosure of financial information regarding the operations of Mantra Chain in a legal battle involving Mantra DAO, Inc., RioDeFi, and former RioDeFi employees accused of misappropriating funds. Defendants John Patrick Mullin, William Corkin, Jayant Ramanand, and Rodrigo Quan Miranda, identified as co-founders of Mantra DAO, were ordered to reveal Mantra's financial records from January 2021 onwards. The court decision, made public on Aug. 12, revealed that the defendants allegedly treated the project as their own, misusing cryptocurrency from a Mantra account. While the plaintiffs initially sought various injunctions, the court only granted the disclosure of financial information. The defendants argued that decisions were made by OM tokenholders, electing them as councilors in 2022. The court described the case as a dispute over ownership and control of the decentralized autonomous organization. The goal of the legal action is to maintain the status quo until trial by allowing the plaintiffs insight into the project's financial operations.