The Ondo Finance succession crisis gets messier as Kathleen Allman’s daughter alleges ‘dementia’, alcoholism and reckless spending
The estranged daughter of 77-year-old Kathleen Allman has petitioned a Hawaiian court to establish a limited conservatorship to protect her parents’ share of her brother’s stake in Ondo.
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Summary
- A legal battle over control of Ondo Finance has intensified after founder Nathan Allman died without a will, leaving his parents to inherit an estate that includes a controlling equity stake and a large holding of ONDO tokens.
- Allman’s mother, Kathleen Allman, sued acting CEO Ian De Bode over an alleged attempt to seize corporate control and secure a compensation package worth about $11 million.
- Allman’s half-sister and Ondo investor David Chen are seeking a limited conservatorship over Kathleen Allman’s share of the estate, alleging cognitive impairment and financial mismanagement, claims she denies.
