A dispute among team members of Milady's parent company escalated, with the two parties vying for control of the project and accusing each other of misappropriating funds.

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PANews
09-13
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Self-proclaimed co-founders, executives and managers of Milady's parent company Remilia issued a statement using the @Milady_Sonoro malfeasance and misappropriation of Remilia collective funds. Three weeks ago, we sent a letter to Charles (X account is Charlotte Fang), trying to get him to recognize us as co-founders, provide us with the equity we deserve in the collective, and Demand that he return all funds siphoned from the vault. In response to our letter, and after Charles' attorneys asked us not to go public with our concerns, Charles filed a lawsuit, falsely labeling us 'independent contractors' and 'terrorists' , Charles' assertion was not accompanied by a contract or the numerous pieces of information we obtained from him that substantiate our assertion and contradict his own. We welcome the opportunity to resolve this dispute in court. "

The statement clarified: "1. Remilia has always been a collective. The LLC created unilaterally by Krishna in Delaware does not own the assets of the collective and was established without the knowledge or support of the other co-founders. . 2. We are co-founders, executives, board members and equity holders, with evidence such as signed contracts, text messages, phone calls, etc. 3. Bonkler’s treasury has not been stolen, and funds have been (and will continue to be) The auction contract is held securely by Ccccaa, which was conducted with the previous approval of the Remilia co-founders. 4. After discovering that Charles removed other funds from the collective treasury without authorization, we requested that Charles transfer to his personal account $600,000 in assets from the collective’s vault Multisig was returned to the collective, but he removed all of Remilia’s other co-founders from the vault Multisig, and after his public post and indictment, he withdrew a total of $260 worth Thousands of dollars in digital assets.”

In response, Charlotte Fang responded: "Remilia has no co-founders. Remilia has no co-founders. From the beginning, I have held sole control over the funds and operations. Before the establishment of the limited liability company, I solely controlled the use of assets to fund Remilia's operations, and they entered into an agreement with me directly and were compensated from the funds I controlled. Milady and the core team working on Remilio received a share of the revenue and accepted to join the company in a regular capacity to continue working, And these individuals never entered into equity negotiations at that time or at any time. This lawsuit resulted from the seizure of company property before requiring all of Remilia’s stablecoin and NFT treasury to be transferred to an entity controlled by 5 parties and divided equally. They Threaten to be publicly exposed first and refuse to comply with a cease and desist order or engage in private arbitration. I took action to freeze Bonkler to protect community interests. The developer does not have the right to retain ownership of the Bonkler contract. Jimbo did receive a letter of intent from a co-founder at one point , but he refused at the time.”

Prior to yesterday’s news, Milady founder Charlotte Fang said that a Milady developer seized the code base and misappropriated $1 million of Bonkler’s treasury funds .

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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