Telegram founder Pavel Durov and the company’s management received a notification from the Da Vinci Capital fund. Investors are demanding the return of funds invested in the TON blockchain project, writes Forbes.
The refund is given two weeks in cas
e of refusal against TON Inc. and Telegram Inc. a lawsuit will be filed in a London court. It is clarified that we are talking about compensation in the amount of about $ 100 million, according to other sources, the claim includes an amount of $ 20 million.
The interlocutor of the publication explained that the notification sent is the so-called “letter before claim”, a legal obligation before filing a statement of claim in court. Co-owner of the fund, managing partner of Da Vinci Capital Oleg Zhelezko declined to comment for Forbes, Vice President of Telegram Ilya Perekopsky did not respond to requests from journalists.
Durov planned to launch a blockchain platform in the fall of 2018. The project then attracted $ 1.7 billion, Roman Abramovich, Yuri Milner, Sergey Solonin and others invested in it. Among the largest investors in TON was the Disruptive Era Fund managed by Da Vinci Capital. The fund entered into an agreement with Telegram to purchase tokens for $ 72.1 million and transferred $ 45.4 million to the seller’s accounts in 2018.
In 2020, Durov officially closed the project, shortly before the launch, the US Securities and Exchange Commission filed a lawsuit against Telegram. According to the SEC, TON investors were offered unregistered securities.
A little later, Durov promised everyone who invested in the blockchain platform shares of the messenger. Last summer, Telegram and the SEC agreed on an amicable agreement, then Durov confirmed his commitment to return the money to investors, the debt repayment period expires at the end of April 2021.
Already this year it became known that Telegram intends to place bonds for $ 1 billion for a closed circle of investors. The search for those wishing to purchase the bonds of the messenger is carried out among a narrow circle of investors from Russia, Europe, Asia and the Middle East. The company was planning to use the proceeds to pay off debts.