According to a report in Forbes, investors of the Da Vinci Capital fund have sent a notice to the founder of Telegram Pavel Durov and other executives saying that they intend to take legal action against TON Inc. and Telegram Inc.
In the letter sent last week, the fund demands compensation for the damage caused by the failed TON blockchain project. Forbes is citing a source close to the fund, telling Telegram and TON Inc. that investors are demanding approximately $100 million compensation. Two more sources close to the top management of Telegram have confirmed the receipt of the letter, However, they have said the claims amount is different, totalling $20 million.
Kommersant reports that a letter to the company was sent by Disruptive Era Fund (DEF), which is managed by Da Vinci Capital. According to the letter, the fund has offered to pay $20 million – the difference between the initially invested amount and what was returned by DEF.
No Official Comment As Yet
Oleg Zhelezko, the co-owner of the fund and managing partner of Da Vinci Capital has so far not issued any public statement on the matter and Telegram Vice President Ilya Perekopsky has also so far, according to Forbes, declined to comment.
Disruptive Era Fund was one of the biggest investors in the TON project and entered into an agreement with Telegram to purchase tokens valued at $72.1 million, transferring $45.4 million to the company in 2018.
According to VTimes, the Telegram group of companies has until April 30th to return nearly $626 million to investors in the TON blockchain platform. This was stated in the group’s financial statements for 2018-2020.
To be able to meet the debt, Telegram intends to raise a billion dollars by placing bonds for a period of five years amongst a limited number of investors, the Kommersant newspaper wrote.
n May 2020, Pavel Durov officially announced the closure of the TON blockchain platform project and the Gram cryptocurrency, in which 171 investors around the world, including high-profile names such as Roman Abramovich, invested $ 1.7 billion.
