Mango Labs sues two DAO members for allegedly misappropriating $10 million in internal funds

Mango Labs has filed a lawsuit against John Kramer and Maximilian Schneider, accusing the two of embezzling $10 million from Mango DAO. Kramer and Schneider, who served in a fiduciary position in the DAO, are accused of conspiring to profit illegally when they purchased MNGO governance tokens held by FTX on behalf of the DAO. Unidentified persons are accused of aiding and abetting the two. In a complaint filed with the U.S. District Court in Puerto Rico, Mango Labs promised to serve the lawsuit documents through a crypto wallet if their identities remain unknown. The lawsuit accuses the two of breaching their fiduciary duties and violating the Puerto Rican civil code on damages, fraud/misrepresentation, and unjust enrichment. The organization's lawsuit seeks monetary damages, "punitive and exemplary damages," and restitution and forfeiture of improperly obtained funds, including interest and fees. (Cointelegraph)