A former FTX employee hired to work with the fallen crypto empire’s charity arm is taking legal action to get his unpaid 2022 bonus.
In a new court document filed on November 13, Ross Rheingans-Yoo says FTX still owes him $275,000 of the $650,000 he was supposed to receive in bonus last year.
“The debtors paid Rheingans-Yoo $375,000 in cash from his $650,000 bonus for the first half of 2022 on or about September 15, 2022. However, the debtors did not pay the remaining $275,000 in cash.”
The filing states that based on a bonus memo from former FTX CEO Sam Bankman-Fried, Rheingans-Yoo can choose to receive the bonus in cash, options or a combination of both, but the exchange is now making false claims to waive to keep her promise. obligation.
“The debtors claim that Rheingans-Yoo ‘has elected to receive his 2022 bonus half in cash and half in options.’ …However, the Debtors failed to provide any direct evidence of Rheingans-Yoo’s alleged election, despite having an e-discovery vendor at their disposal that tracked more than 5,000 Rheingans-Yoo emails, Slack emails identified threads and documents…
Rheingans-Yoo never opted to receive options as part of his bonus for the first half of 2022.”
The former Jane Street trader is also trying to get a further $650,000 to donate to charity, citing the terms of the employment contract and a statement from Bankman-Fried.
“Rheingans-Yoo’s compensation under Ross Terms included a base salary, a cash bonus and a separate right to make a payment to charity in the amount of his cash bonus.”
Rheingans-Yoo says he never resigned. He also claims $5,763.33 in unpaid wages before the petition and at least $62,847.75 in wages after the petition.
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