FTX Employee Seeks Unpaid Bonus in Court
Ross Rheingans-Yoo, an ex-employee of the now-bankrupt crypto exchange FTX’s charitable arm, is pursuing legal action to claim the remaining $275,000 of a bonus he asserts was promised by Sam Bankman-Fried upon his recruitment. He has reportedly only received $375,000 for his tenure, which lasted less than a full year.
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Ross Rheingans-Yoo, an ex-employee of the now-bankrupt crypto exchange
FTX's charitable arm, is pursuing legal action to claim the remaining
$275,000 of a bonus he asserts was promised by Sam Bankman-Fried upon
his recruitment. He has reportedly only received $375,000 for his
tenure, which lasted less than a full year.
His legal team argues that Rheingans-Yoo diligently fulfilled his duties
and was unaware of any misconduct by Sam, particularly regarding the
misappropriation of client funds. Emphasizing that he was not part of
the former CEO’s inner circle, they dispute the exchange's new
leadership's assertion that the employee had already received his
entitlement in options before the bankruptcy.
Previously,
FTX had previously demanded Latona Biosciences Group, owned by
Rheingans-Yoo, to return $71 million in investments and donations,
citing alleged misuse. Rheingans-Yoo insists these funds were
appropriately directed towards medical research, contributing to
societal well-being.
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