SEVEN Sins by First Digital Trust (FDT)

First Digital Trust (FDT) is not only insolvent but also involved in numerous ongoing crimes. Each of us should act as soon as possible—don’t wait until it’s too late and live to regret it.

In Hong Kong, a trust company acting as a custodian for public is subject to both legal and regulatory requirements such as the Securities and Futures Ordinance (SFO), Trustee Ordinance (Cap. 29), and relevant rules enforced by the Securities and Futures Commission (SFC).

Misappropriating custodial funds and misconduct of investment fraud would constitute serious breaches of fiduciary duty and regulatory compliance, on top of criminal offence. I have witnessed piles of evidences that point to serious offences in the FDT rug-pull of $501.85 million of from TUSD’s custodial monies.

https://x.com/justinsuntron/status/1909572856419434734