Nouns DAO spent $150,000 to invest in a canned baked beans project, which has been shelved, and the whereabouts of the funds remain a mystery
ChainCatcher news, according to The Block, three years ago, the Nouns community approved a proposal to invest 135 ETH (approximately $150,000 at the time) in a project called MOOØNBEANS, which planned to produce and sell high-end roasted beans using a recipe provided by Sublime Butter (a handmade butter company based in the UK). However, three years later, the project has not produced any canned roasted beans, nor is there any clear indication of where the funds went.Tony Ho, a director at Sublime Butter, stated that the funds were never used for the company, and that the company removed founder Chris Mair as a director in July 2023, accusing him of fraudulently using the brand for fundraising. Ho further claimed that the investment funds were directly transferred to Mair's personal wallet, after which the whereabouts of the funds are unknown. The Nouns DAO needs to take legal action to recover the funds, as they were never recorded in the company's accounts.
