{"id":244661,"date":"2019-12-19T09:16:44","date_gmt":"2019-12-19T14:16:44","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=244661"},"modified":"2020-06-12T16:26:42","modified_gmt":"2020-06-12T20:26:42","slug":"whistleblower-accuses-kraken-of-violating-international-sanctions-in-lawsuit","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/whistleblower-accuses-kraken-of-violating-international-sanctions-in-lawsuit","title":{"rendered":"Whistleblower Accuses Kraken of Violating International Sanctions in Lawsuit"},"content":{"rendered":"<p>US-based <a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-exchanges\">cryptocurrency exchanges<\/a> like Kraken are facing litigation from a former employee who suggests that the company violated international sanctions. The employee said that he was fired by the company unfairly after he raised issues about some of their practices.<\/p>\n<h2>Former employee sues the company<\/h2>\n<p>Former marine Nathan Runyon was working as a financial analyst at Kraken and reported directly to the company\u2019s CEO Kaiser Ng. He filed a lawsuit against the company saying that he found<\/p>\n<blockquote><p>\u201cnumerous questionable business tactics that Ng condoned or was responsible for.\u201d<\/p><\/blockquote>\n<p><a href=\"http:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/Kraken1.png\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-244662\" src=\"http:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/Kraken1.png\" alt=\"Whistleblower Accuses Kraken of Violating International Sanctions in Lawsuit\" width=\"720\" height=\"360\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/Kraken1.png 720w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/Kraken1-300x150.png 300w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>He said that the exchange had earned money from sanctioned companies and nations which were a part of the Office of Foreign Assets Control\u2019s Specially Designated Nationals and Blocked Persons List. He suggests that he has seen a list of the company\u2019s revenue streams. Upon finding these violations, he tried to raise concerns with the management. However, he was repeatedly ignored.<\/p>\n<p>The filing further adds,<\/p>\n<blockquote><p>\u201cRunyon questioned Ng\u2019s business decisions, but for the most part, given Ng\u2019s response, Runyon noted the issue and moved on.\u201d<\/p><\/blockquote>\n<p>The filing doesn\u2019t stop here. It suggests that the company used fake company officer addresses and engaged in the disappearance of customer funds.<\/p>\n<h2>Charges related to harassment at workplace<\/h2>\n<p>Runyon said that he was also harassed at his workplace because he was a marine wartime veteran. The filing explicitly states that Ng himself harassed Runyon for his veteran status and his disability. The former employee is diagnosed with anxiety and depression. He was treated more harshly than other employees by Ng.<\/p>\n<p>The CFO repeatedly yelled, lost his temper and got angry at Runyon and attacked him verbally. He said that the CFO believed that he could handle all the attacks because he has a military background.<\/p>\n<p>Lawyer David Gerard wrote about these allegations at length on his blog. Kraken reportedly denied commenting on a pending legal case. The company\u2019s lawyers have signed an acknowledgment notice for the suit. \u00a0It would take up to two months for the discovery and another six months for depositions. The case will take a long time to come to a courtroom, according to Gerard finally.<\/p>\n<p>It is unclear if the allegations are true or if Runyon has intimated the regulatory authorities about these violations yet.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">US-based cryptocurrency exchanges like Kraken are facing litigation from a former employee who suggests that the company violated international sanctions. The employee said that he <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/whistleblower-accuses-kraken-of-violating-international-sanctions-in-lawsuit\" title=\"Whistleblower Accuses Kraken of Violating International Sanctions in Lawsuit\">[&#8230;]<\/a><\/div>","protected":false},"author":1730,"featured_media":244663,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[8071,10068,5519,7874,10069,10067],"class_list":["post-244661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-cryptocurrency-exchange","tag-kaiser-ng","tag-kraken","tag-lawsuit","tag-lawyer-david-gerard","tag-whistleblower"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ 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