Justin Sun Alleges TrueCoin’s $456 Million Fraud Scheme Involving FDT and Dubai Connections

In a recent livestream, Justin Sun raised serious allegations against TrueCoin, suggesting potential collusion with FDT and other entities in the mishandling of substantial funds. According to Sun’s statements, approximately $456 million worth of TUSD fiat reserves may have been transferred illicitly through misleading documentation and unauthorized procedures. This significant sum was reportedly diverted to a private company in Dubai, linked to the spouse of a former investment manager from the Cayman Islands. Furthermore, the CEO and Director of FDT and Legacy Trust, Vincent Chok, is accused of directly sanctioning these transactions, thus undermining his fiduciary responsibilities. Such claims, if validated, could have severe implications for the involved parties and raise considerable concerns about regulatory compliance in the cryptocurrency market.