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U.S. SEC: Terraform Labs paid $166 million in suspicious payments to law firm Dentons
2024-02-29 05:33
Odaily News In a filing on Tuesday, the U.S. SEC asked the Delaware Bankruptcy Court to reject Terraform Labs hiring of Dentons US LLC as its special counsel, saying the company had made a questionable payment to the latter. The SEC said in the filing that Terraform Labs transferred a staggering $166 million in advances to Dentons, including $122 million in the 90 days before the bankruptcy filing. The move appears to be aimed at removing assets from the company that could be used to pay any judgments resulting from enforcement actions, the SEC said. (The Block)