Ondo Finance inheritance dispute intensifies as founder's mother faces allegations of incapacity

The inheritance dispute surrounding Ondo Finance founder Nathan Allman, who passed away in May without a will, has escalated. His half-sister, Lani Clinton, and investor David Chen have petitioned a Hawaii court to place limited guardianship over the estate share held by his mother, Kathleen Allman. The petition alleges that Kathleen suffers from chronic alcohol use disorder and cognitive impairment, citing extravagant spending including a $4 million yacht and luxury travel. Kathleen Allman has denied these allegations through her attorney, characterizing the move as a desperate attempt by interim CEO Ian De Bode to seize control of the company following previous legal setbacks. Ondo Finance has declined to comment.