Nouns DAO Spends $150,000 to Invest in Canned Roasted Bean Project, Funds' Whereabouts Unknown

BlockBeats News, April 3rd, according to The Block, three years ago, the Nouns community approved a proposal to invest 135 ETH (then worth about $150,000) in a project called MOOØNBEANS, aimed at producing and selling high-end baked beans based on a recipe provided by Sublime Butter, a handmade butter company based in the UK. However, three years have passed, and the project has not produced any canned baked beans, with no clear signs of where the funds went.

A director at Sublime Butter, Tony Ho, stated that the funds were never used by the company, and the company dismissed founder Chris Mair as a director in July 2023, accusing him of fraudulently using the brand for investment fundraising. Ho further claimed that the investment funds were directly transferred to Mair's personal wallet, and the subsequent whereabouts of the funds are unknown. The Nouns DAO needs to take legal action to recover the funds as they never entered the company's accounts.