Haruinvest Insolvent at Time of Withdrawal Suspension
CryptoNewsTerminal Staff06 Jun, 2024
Haruinvest Insolvent at Time of Withdrawal Suspension
Prosecutors at the ongoing trial of executives from Haruinvest have alleged that the company was insolvent at the time of suspending customer withdrawals in June 2023. The prosecution claims that this means Haruinvest's management were aware of the company's inability to repay its customers, making the suspension of withdrawals a deliberate act of fraud. Haruinvest's management has denied these allegations, claiming that the company would have been able to pay back its customers if not for an incident involving a third-party company. This incident, known as the "B&S incident," allegedly resulted in the loss of a significant amount of Haruinvest's assets. The trial is ongoing, and it remains to be seen whether the prosecution will be able to prove its case against Haruinvest's management. However, the allegations made by the prosecution are serious and raise concerns about the solvency of Haruinvest and the safety of its customers' funds. ```
