Late Ondo Finance founder’s mother seeks control, calls for CEO’s removal

Nathan Allman, the late founder of Ondo Finance (ONDO), is at the center of a dispute over control of the company, with Allman’s mother seeking control and calling for CEO Ian De Bode’s removal. The Block, citing a complaint filed in a Delaware court, reported Allman’s mother alleged that within days of her son’s death, De Bode acted as Ondo Finance’s CEO without board approval and tried to appoint himself as the company’s sole director. Allman’s mother argued that as administrator of her son’s estate, she holds the voting rights tied to the company and has the authority to reconstitute its board. De Bode pushed back, saying the claims are baseless and will be clearly disproven in court. Ondo Finance had announced in late May that Allman had died and that De Bode had become CEO.