PANews reported on April 8 that Justin Sun released the "Seven Sins" of First Digital Trust (FDT), including: ① Breach of trustee obligations. FDT misappropriated customer funds, which violated Section 4 of Chapter 29 of the Hong Kong Trustee Ordinance (reasonable prudence obligation) and basic trustee principles. ② Abuse of customer funds. FDT transferred TUSD funds to ARIA DMCC without proper authorization and has faced intervention by law enforcement agencies, including fines, revocation of licenses, and even criminal prosecution. ③ Conducting regulated activities without a license. Although FDT is registered as a TCSP company, it does not hold any license issued by the Hong Kong Securities and Futures Commission. ④ Fraud or theft. FDT joined forces with ARIA CFF, Truecoin (Alex De Lorraine), Crossbridge/Finaport (Yai Sukonthabhund) and other accomplices to cover up the misappropriation and fabricate investments by falsifying records. ⑤ False declaration or concealment. In order to cover up misappropriation or unauthorized transactions, FDT provided false statements and fraudulent documents, claiming that the TUSD funds were intact and had been invested as instructed. ⑥ Violation of anti-money laundering obligations. FDT transferred illegally misappropriated funds through complex transactions or offshore accounts to conceal their sources, suspected of violating anti-money laundering regulations and may even constitute an act of assisting money laundering. ⑦ Violation of the Prevention of Bribery Ordinance (POBO). FDT/Legacy, at the instruction of Vincent Chok, accepted secret kickbacks from Dubai private company DMCC in exchange for illegally misappropriating TUSD escrow funds.