Dr. Ann Olivarius talks to The Recorder about a recent lawsuit filed against $1.3 billion crypto IRA platform startup Capital alleging sexual harassment and wrongful termination.
Extract:
A rising crypto individual retirement account platform and its former chief executive officer are facing a multimillion-dollar complaint in a state court in California for what an independent expert called a cautionary tale of “an extreme case of corporate culture gone wrong.”
The case involves Jonathan Nungaray, the former chief technology officer for one of the defendants, iTrust Capital Inc. Nungaray alleged in his complaint that his wife was repeatedly sexually harassed, and he was wrongfully terminated by the other defendant, Todd Southwick.
“Crypto firms are notoriously chaotic when it comes to management and processes, but the lack of ‘normal’ corporate structures here is alarming,” Ann Olivarius, a McAllister Olivarius senior partner and an independent expert, said. “Beyond the allegations of office discussions about strip clubs and the use of cocaine at work, their general lack of oversight is startling. This is a $1.3 billion-valued company that, if the complaint is to be believed, doesn’t even have an HR function.”
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