“Crypto Investigator Uncovers Alleged Bribery Scandal: Ethereum Co-Founder Accused of Influencing SEC Decisions with Illicit Payments”
Over 20 former employees of ConsenSys have filed a lawsuit against Ethereum and ConsenSys co-founder Joseph Lubin, accusing him of depriving them of stock values by shifting assets. The employees claim that Lubin transferred assets from ConsenSys AG in 2020, leaving them with shares of little to no value. The transfer was facilitated using crypto tools built by software engineers and product designers who are now involved in the case.
The news has gained attention on social media, with internet influencer Mr. Huber demanding action. He criticized Lubin for providing misleading documents to the SEC regarding Ethereum’s concentration of investors. Mr. Huber also claimed that Lubin had bribed the regulatory body with substantial financial incentives.
This is not the first case against Lubin, as there is a similar ongoing case in a Swiss court. According to a representative for Lubin and ConsenSys, the previous case did not result in a favorable outcome for the former employees.
In the initial allocation, Lubin had assigned 30% of the holding company to employees. However, the lawsuit claims that the employees now only possess approximately 9% of that stake.
It’s important to note that the information presented in this article is for informational and educational purposes only and does not constitute financial advice. Readers are advised to exercise caution before taking any action related to the company.