The Ondo Finance succession crisis gets messier as Kathleen Allman’s daughter alleges ‘dementia’, alcoholism and reckless spending
The sudden death of Ondo Finance founder Nathan Allman at age 32 has triggered a complex legal battle over control of the company and his estate. Following Allman's passing without a will, his parents inherited his controlling equity interest and significant ONDO token holdings. Acting CEO Ian De Bode is currently embroiled in litigation with Allman’s mother, Kathleen Allman, who accuses him of attempting to usurp corporate control through an $11 million compensation package. Conversely, Allman’s half-sister and an Ondo investor have petitioned a Hawaiian court to place Kathleen Allman under a limited conservatorship, citing concerns over her mental health, alleged alcohol use disorder, and reckless financial management. These internal conflicts threaten the governance stability of a major RWA protocol, potentially impacting investor confidence and the long-term strategic direction of the platform. The dispute highlights the risks associated with key-person dependency and succession planning in the rapidly maturing RWA sector. As the legal proceedings unfold across multiple jurisdictions, the future leadership and operational integrity of Ondo Finance remain in significant flux.