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Former Executives Accuse Tether-Backed Northern Data of Fraud Amid U.S. IPO Plans

Jul 5, 2024, 03:30 PM

Former executives of Northern Data, a Tether-backed crypto group, have filed a complaint in a California court alleging systematic fraud within the company. The ex-directors, including the former Group CFO and former US CEO, claim they were fired after whistleblowing about accounting fraud, securities fraud, and tax fraud by the CEO and COO. They also allege the company was 'borderline insolvent' and engaged in rampant tax evasion. The accusations come as Northern Data is attempting to go public in the U.S.