The best Side of flutterwave scandal

Besides that, there’s also the other subject of GB allegedly generating up the existence of the fictional unique termed Greg; a intended CTO at Flutterwave who was also handed a percentage of the company.

Nevertheless, the considerable damage had by now taken its toll. The startup’s meteoric rise stalled as external partners and buyers grew wary of its stability and governance. Chat of a general public listing or international enlargement evaporated overnight.

What's more, Kenya backed down with out Flutterwave dispelling the most critical allegations all over lacking merchant paperwork. The controversy leaves the fintech’s status harmed inside a pivotal current market which could have an effect on the corporation’s valuation.

The Flutterwave scandal started off when men and women commenced to note some thing wasn’t ideal. It had been similar to a puzzle that people needed to set with each other. As far more clues came out, the information bought larger and more people commenced speaking about it. It’s like a magic formula that’s finding uncovered.

Annie Njanja two decades Flutterwave has arrive out to deny the fraud and revenue laundering statements leveled in opposition to it by Kenya’s Asset Restoration Agency, which investigates and recovers proceeds of crime.

Odero’s depiction of her time at the company may well happen to be motivated by an posting that portrayed her negatively while extolling the virtues of Flutterwave’s unicorn excursion.

The court order incorporated accounts below Flutterwave’s neighborhood Kenyan subsidiary. The ARA alleged these accounts were being employed for suspicious funds transfers and doable laundering.

By February 2023, Kenya appeared ready to de-escalate the flutterwave scandal conflict with Flutterwave. The ARA formally withdrew its court docket situation connected to the $fifty two million asset freeze. This complete courtroom procedure paved how with the payment company System accounts to get unfrozen soon after months of authorized wrangling.

In addition, regional shops have uncovered court filings by Flutterwave’s lawyer seeking an get to freeze lender accounts belonging to the hackers and third-get together recipients.

They made guaranteed absolutely nothing poor happened to folks’s dollars. But Flutterwave claims their payment system wasn’t hacked and your hard earned money is Harmless. They’re like superheroes preserving your hard earned money on-line.

“I am aware it is a lot to absorb! We can have much more discussions to discuss all this in higher detail. I wish to listen to from you all and response any queries you've.

A single case wherever an ex-staff was reportedly outrightly denied inventory possibilities that were at first provided is now for the National Industrial Courtroom where by a previous employee is locked in litigation with Flutterwave.

In line with David he has been engaged on this report revealing Flutterwave scandal to the earlier six months. As well as in the method he interviewed three official personnel of the organization plus more revelations are right here.

Lipa Later on CEO, Eric Muli, on his appointment claimed, “Olugbenga Agboola is among Africa’s primary fintech gurus, and we're major admirers of the function he has done over the continent. It’s an honour along with a tribute on the perform we’re executing listed here at Lipa Later on to own GB on board.”