H.E. Justin Sun 👨‍🚀 🌞
H.E. Justin Sun 👨‍🚀 🌞|Nov 28, 2025 13:40
This is my speech on November 27, 2025, welcome to be quoted by the media! I would like to update everyone present on the latest developments regarding TrueUSD! This is a story in our industry about perseverance, responsibility, and relentless pursuit of justice. Looking back to April of this year, I personally held a press conference to officially announce the launch of a rescue plan for public holders of TUSD stablecoins using my personal financial resources, in order to fill the approximately $500 million liquidity gap. It should be clarified that this liquidity issue is not due to poor operational management of TUSD, but rather, as Techeryx detailed in the court lawsuit, it is due to the illegal activities of large-scale fraud and asset misappropriation by several financial institutions entrusted with the custody of TUSD reserve assets. The involved institutions include ARIA Group, First Digital Trust (FDT), Legacy Trust, Finaport, TrueCoin, etc; The key figures involved include Matthew Brittain, Vincent Chok, Alex De Lorraine, and Yai Sukonthabhund. After Techeryx acquired the TUSD business, evidence of Aria and her accomplices' fraudulent behavior of stealing TUSD reserve assets through lies and deception gradually came to light. To demonstrate justice and hold accountable, Techteryx has filed lawsuits in multiple jurisdictions, including submitting detailed allegations to DIFC courts, explaining how members of the Aria fraud group fraudulently misappropriated nearly $500 million in TUSD reserve assets. Without a doubt, the core of Aria's carefully crafted global scam is a group of criminals who have seriously abandoned their profession and entrusted responsibilities. They embezzle customer assets, accept illegal kickbacks, and launder their illegal gains through offshore shell company networks. After a thorough review by the DIFC court, the court believes that there is a serious issue in this case that requires further formal examination, namely that the defendants involved induced Techeryx's consent through false statements. The relevant false statements include: describing Aria Commodity Finance Fund as a low-risk investment tool focused on "short-term asset-backed trade financing" and provided with credit risk guarantees by reputable institutions. However, the relevant funds were not used for the aforementioned purposes, but were transferred to Aria Commodities DMCC ("Aria DMCC"), a private company located in Dubai controlled by the wife of Matthew Brittain, the mastermind behind Aria's global fraud operation. As the truth is gradually revealed, this scam clearly presents the characteristics of a global scale, involving the two major financial centers of Dubai and Hong Kong. At the same time, funds are arranged to be transferred layer by layer, passing through multiple countries and regions such as the Cayman Islands, the United States, Australia, the United Kingdom, Singapore, Liechtenstein, Ukraine, and Africa. Subsequently, all missing funds were either laundered and transferred, or became irretrievable loans, stranded in various fraudulent investment projects, such as a loss making asphalt manufacturing facility in the UAE, suspicious coal mining rights in Africa, cryptocurrency trading with FTX, so-called commodity projects in the US and Ukraine, as well as unverified and worthless port infrastructure and renewable energy projects in Australia, and so on. Obviously, Alex De Lorraine packaged Aria Commodity Finance Fund as a low-risk, liquid financial investment tool through fraudulent statements during his tenure as the trustee of Techteryx - a fact that can also be confirmed by the SEC's accusation against TrueCoin. And it was through these false statements that he assisted and condoned Matthew Brittain, Vincent Chok, Yai Sukonthabhund, and others in committing systematic fraud against Techteryx, resulting in nearly $500 million of TUSD reserves being illegally misappropriated. Now, I will report the latest developments to you, which have brought clear positive signals for the relevant asset restructuring and the accountability of criminals. Six months after we announced the rescue plan, we have made significant progress at the legal level. On October 17, 2025, His Excellency Michael Black KC, Judge of Dubai DIFC Court, confirmed and issued an ownership injunction, issuing a global freeze order against Aria Commodities DMCC, its illegal occupation of $456 million in assets belonging to TUSD, and related illegal money laundering proceeds. This ruling is a milestone - it is the first global freezing order issued by the DIFC court. The freezing order aims to prevent related assets from being further transferred or concealed before the Hong Kong court makes a final ruling on the case. The DIFC court has determined that there is conclusive evidence to suggest that the parties involved have violated their trust obligations. During the period of 2021 to 2022, TUSD reserve funds illegally diverted to Aria DMCC through FDT and Legacy Trust were largely transferred to suspicious projects with extremely low liquidity, which seriously violated the custody agreement by investing the reserve funds that should have been stable and safe in high-risk, non redeemable assets. The judge also pointed out the real risk of key figures such as Matthew Brittin concealing related assets. The court also pointed out that the Hong Kong entity Glass Door Limited ("Glass Door") was a core participant in a series of improper hidden transactions similar to financial bribery. Evidence shows that Glass Door has received nearly $14 million in secret large kickbacks from Aria DMCC for inducing clients to invest funds. Yai Sukonthabhund is both the actual controller of Glass Door and the main person in charge of Finaport, which has been appointed by FDT to provide investment advice and consulting services on the so-called Aria "investment". Yai Sukonthabhund not only violated her financial advisory duties, but also clearly colluded with Vincent Chok, the actual controller of FDT and Legacy Trust, to obtain illegal kickbacks for herself. In addition, the court pointed out a serious issue that needs to be addressed, namely that FDT, as a Hong Kong trust company, has seriously violated its fiduciary obligations by making unauthorized remittances to Aria DMCC. Vincent Chok served as the CEO, director, and actual controller of two affiliated trust companies: FDT and Legacy Trust, which not only allowed $456 million in funds to be illegally transferred to Aria DMCC, but also participated in forging transaction documents with signing dates to create the illusion of legitimate investment and cover up the fact that funds were misappropriated from Techteryx.
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