Singapore charges ex-Hodlnaut CEO over allegedly misleading claims tied to Terra collapse, faces up to 20 years in prison
The Block
Former Hodlnaut CEO Zhu Juntao faces fraud charges in Singapore for allegedly misleading investors about the company's losses following the TerraUSD collapse.Summary
Zhu Juntao, the former CEO of the defunct crypto lending platform Hodlnaut, has been charged with fraud in Singapore for making misleading claims regarding the firm's exposure to the TerraUSD (UST) collapse. Authorities allege that Zhu instructed staff to claim the company had no direct exposure to UST, despite the platform suffering nearly $190 million in losses when the token crashed in 2022. If convicted of the six counts of fraud by false representation, Zhu faces up to 20 years in prison.
(Source：The Block)