Sacked Northern Data Execs File Suit Against Tether-Backed Company, Alleging Fraud

Sacked Northern Data Execs File Suit Against Tether-Backed Company, Alleging Fraud


Two former executives of Tether-backed German tech company Northern Data have filed suit against the firm, alleging that they were wrongfully terminated after raising concerns about the company’s financial health and alleging tax evasion.

Northern Data is the largest bitcoin miner in Europe. In addition to bitcoin mining, the company also operates data centers used for artificial intelligence.

In their recently unsealed California lawsuit, the two executives – Joshua Porter and Gulsen Kama – allege that Northern Data lied to investors about the strength of its finances, hiding the fact that it is “borderline insolvent,” and, additionally, is “knowingly committing tax evasion to the tune of potentially tens of millions

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