Former FTX Employee Sues for Unpaid Bonus
If you were hired to work with a company’s charity wing and were promised a bonus, would you expect to receive it? Ross Rheingans-Yoo, a former FTX employee, is taking legal action against the crypto exchange to get his unpaid 2022 bonus of $275,000. According to court documents filed on November 13th, FTX still owes him this amount from the $650,000 bonus he was supposed to receive last year.
Disputed Claims
Rheingans-Yoo claims that FTX paid him $375,000 in cash but did not pay the remaining $275,000 of his bonus. The filing also states that the exchange is making false assertions to renege on its obligation. Despite claims from FTX that Rheingans-Yoo elected to receive half of his bonus in cash and half in options, he denies ever making such an election.
Charitable Donation Dispute
In addition to the unpaid bonus, Rheingans-Yoo is seeking another $650,000 to donate to charity based on provisions in his employment agreement and a statement from former FTX CEO Sam Bankman-Fried. He insists that he never resigned and is also claiming unpaid prepetition and post-petition salary.
Hot Take
The former FTX employee is taking legal action to claim his unpaid bonus and disputed charitable donation funds after working with the company’s charity wing. The court documents reveal a dispute over the payment terms and choices made by Rheingans-Yoo regarding his compensation and charitable contributions.
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