Charles brought in the money and then Dan kicked him out. I got that straight from Charles on Skype the week after it happened. But there’s more to the story that reflects even more poorly on Dan that I feel I shouldn’t blabber about. Notice @dan downvoted your comment, probably because he doesn’t ever want that information to come out.
Charles was basically driven out of ETH also. I think in both cases he wanted a more transparent and higher quality compliance with law. Neither Dan nor Vitalik wanted oversight of a board or requirements to produce certain quality of whitepapers and such. Charles likes formalism. Dan wants to operate by the seat of his pants with informalism that amounts to roughly about the academic level of a high school science project.
Yet I am not too overly impressed with IOHK thus far though. Lots of formalism, but very little in the way of significant foundational breakthroughs as far as I can find so far.
Note I used to discuss with both Dan (bytemaster) and Charles (charleshoskinson) on bitcointalk.org in 2013. I thought it was a strange partnership at the time, and I didn’t expect it to last long. They just seem so different. Charles is an academic. Dan is a very strange person. He is sort of mix of an engineer, snake oil salesman, and a progressive, leftist wolf wrapped in libertarian sheepskin. Very complex to try to understand his psyche.