According to Foresight News, Cointelegraph reported that Mango Labs has filed a lawsuit against John Kramer and Maximilian Schneider, accusing them of embezzling $10 million from Mango DAO. John Kramer and Maximilian Schneider served in trust positions in the DAO and were accused of conspiring to make illegal profits. The indictment shows that Kramer and Schneider claimed that they would buy MNGOs held by FTX for DAO at a preferential price, and said that the tokens would be transferred to DAO, and the purchase of tokens would also prevent bad guys from obtaining tokens. But then the two secretly bought MNGOs around April 1, 2024, and deposited them anonymously in the DAO treasury. On April 30, 2024, Mango DAO paid more than 78 million MNGO tokens for about $2.5 million in accordance with the proposal.
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Mango Labs sues DAO members for allegedly misappropriating $10 million in internal funds
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