Whistleblower Alleges Bribery and Retaliation
A former senior Binance employee has filed a whistleblower lawsuit in the UK, accusing a colleague of soliciting bribes from customers in exchange for preferential treatment.
Amrita Srivastava, who works remotely on the Binance Link platform, claims she was wrongfully fired after reporting alleged misconduct.
Binance’s legal troubles continue
According to Bloomberg Reportthe allegations were made at an employment tribunal earlier this week. Srivastava said the associate accepted the payment under the guise of providing consulting services.
The employee would secretly receive bribes to register new customers to the exchange. She further claimed that the person hid his relationship with Binance and has since left the company.
Although Srivastava reported the bribery to her manager in April 2023, she was fired the following month.
Now, she is suing Binance Europe Ltd., allegedly in retaliation for raising concerns about the incident. Exchanges also face Similar accusation from another employee earlier this year.
“Former Binance executive Amrita Srivastava is suing Binance UK, claiming she was fired for reporting a bribery scheme. She says someone at Binance was acting under the guise of “consulting” Taking bribes, she wouldn’t let this go. She reported it, but a month later Mario Nofal was fired for “poor performance.” wrote on X (formerly Twitter)
Binance’s legal team, meanwhile, argued that the company was aware of the bribery allegations. However, they maintained that Srivastava was sacked due to poor performance. The legal team pointed to the company’s broader approach to addressing poor employee performance.
The court heard another story in Binance’s long list of legal troubles. Back in November 2023, the exchange admitted guilt Violation of U.S. anti-money laundering laws. This resulted in a record $4.3 billion fine and the resignation of Changpeng Zhao (CZ) as the company’s CEO.
Meanwhile, CZ and Binance facing separate lawsuit from bankruptcy Cryptocurrency exchange FTX. According to a lawsuit filed earlier this month, Sam Bankman-Freed Fraudulently transferred a portion of $1.8 billion in assets to CZ and its exchange.
Recently, CZ served four months in prison for violating U.S. anti-money laundering laws. He was released in September but still faces Multiple other lawsuits.
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