{"id":101803,"date":"2024-11-28T09:07:19","date_gmt":"2024-11-28T13:07:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101803"},"modified":"2024-11-28T09:07:56","modified_gmt":"2024-11-28T13:07:56","slug":"former-binance-exec-sues-uk-division","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/former-binance-exec-sues-uk-division\/","title":{"rendered":"Former Binance Exec Sues UK Division Over Bribery Claims"},"content":{"rendered":"\n

Former Binance executive Amrita Srivastava has filed a lawsuit against Binance Europe <\/a>Ltd, seeking whistleblower claims for reporting bribery.<\/p>\n\n\n\n

\"Former<\/figure>\n\n\n\n

A former senior employee has filed a whistleblowing lawsuit against Binance Holdings\u2019 UK division, alleging unfair dismissal after reporting suspected misconduct involving bribery.<\/p>\n\n\n\n

Ex-Employee Files Lawsuit Against Binance Europe<\/h2>\n\n\n\n

Amrita Srivastava, a London-based senior staff member, has taken Binance Europe Ltd to an employment tribunal, according to a November 28 report by Bloomberg\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. <\/p>\n\n\n\n

Srivastava alleged that a colleague solicited a bribe from a customer in exchange for preferential treatment, which she reported to her managers. She claimed her employment was terminated shortly after raising the issue.<\/p>\n\n\n\n

Srivastava also highlighted concerns that Binance was trying to address a \u201crevenue gap\u201d for its Link platform after identifying that a customer linked to Iran had previously contributed a quarter of the unit's revenue. <\/p>\n\n\n\n

She stated that the bribery involved a colleague who pretended not to work for Binance while offering “consultative services” to provide the customer with access to the platform. The colleague has since left the company.<\/p>\n\n\n\n

Srivastava, who worked remotely on Binance\u2019s Link platform, said she was dismissed in May 2023, a month after reporting the alleged bribery incident. Binance, however, maintained her termination was due to poor performance. <\/p>\n\n\n\n

In a statement, Binance said, \u201cThe decision to end her employment for poor performance pre-dated concerns she raised about an issue that was already known and under investigation by our internal audit team.\u201d The company emphasized its commitment to filtering out underperformers.<\/p>\n\n\n\n

Before joining Binance in April 2022, Srivastava was the head of fintech coverage for Western Europe at Mastercard Inc.<\/p>\n\n\n\n

The UK\u2019s employment tribunal system allows whistleblowers to claim unlimited compensation, although damages for unfair dismissal are capped at \u00a3105,700.<\/p>\n\n\n\n

Ongoing Scrutiny and Legal Challenges in the US<\/h2>\n\n\n\n

Binance has faced heightened regulatory scrutiny<\/a> in the US, particularly from the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). <\/p>\n\n\n\n

Recently, a district judge ruled that the sale of Binance\u2019s BUSD and BNB tokens does not constitute securities, marking a partial victory for the exchange.<\/p>\n\n\n\n

Meanwhile, the SEC has been granted permission to file a 70-page response to Binance\u2019s motion to dismiss its lawsuit. The SEC contends that most crypto transactions, including secondary market sales, qualify as securities transactions. <\/p>\n\n\n\n

The SEC\u2019s response is due by December 4, with the lawsuit's timeline extending into 2026 following a scheduling order issued last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

Former Binance executive Amrita Srivastava has filed a lawsuit against Binance Europe Ltd, seeking whistleblower claims for reporting bribery. A former senior employee has filed a whistleblowing lawsuit against Binance Holdings\u2019 UK division, alleging unfair dismissal after reporting suspected misconduct involving bribery. Ex-Employee Files Lawsuit Against Binance Europe Amrita Srivastava, a London-based senior staff member, […]<\/p>\n","protected":false},"author":56,"featured_media":101809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5824,326,16249],"class_list":["post-101803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance-uk","tag-binance","tag-binance-vs-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/Former-Binance-Exec-Sues-UK-Division-Over-Bribery-Claims.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101803"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101809"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}