Ex-Binance exec sues for whistleblowing, citing bribery and unfair dismissal claims: report

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As a seasoned crypto investor with a keen eye for company culture and integrity, I find myself deeply concerned by the ongoing legal action against Binance. Having seen my fair share of market fluctuations and project failures, this allegation of bribery within one of the leading exchanges is particularly troubling.

Binance is under investigation due to allegations made by a previous high-ranking staff member, who claims she was let go because she reported an attempted bribe from a coworker, which she described as being presented as consulting services.

A previous Binance official is filing a lawsuit against the cryptocurrency platform in the UK, alleging that they were unjustly terminated following their report of a coworker’s suspected attempt to extort a bribe from a client. According to Bloomberg’s findings.

Amrita Srivastava, a high-ranking employee at Binance located in London, stated at an employment hearing that she was let go following her disclosure of a bribery case. According to Srivastava, a co-worker accepted money “under the pretense of offering consultative assistance” to help a customer integrate with Binance, while concealing their affiliation with the company. The colleague has since departed from Binance, as indicated in the report.

Srivastava, an employee who handled connections between brokers and clients on Binance’s Link platform while working remotely, has filed a lawsuit against Binance Europe Ltd. She alleges that she reported bribery to her superiors in April 2023, but was terminated a month later, as reported by Bloomberg.

In this matter, I, as the analyst, would convey that Binance’s legal representation clarified that they were previously aware of the incident. The termination of Srivastava’s employment was not due to whistleblowing, but rather a result of subpar performance. Furthermore, a representative for the exchange communicated to Bloomberg that her dismissal for poor performance occurred before she expressed concerns about an issue that had already been recognized and was being scrutinized by our internal audit team.

At the Link unit, Srivastava mentioned that there was a need to close transactions due to Binance’s efforts to compensate for a shortfall in income, as they discovered that roughly a fourth of Link’s service earnings originated from a client connected to Iran.

As a crypto investor and follower of Binance, I’ve learned from court filings that the company’s leaders were cognizant of the bribery issue and chose to address it. In a submission for a hearing, Srivastava expressed that her time at Binance has left a detrimental mark on my professional career, an impact I will work tirelessly to rectify over the coming years.

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2024-11-28 14:16