Allegations Against B2C2 Ex-CEO Surfaces in Lawsuit Against Company

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Allegations Against B2C2 Ex-CEO Surfaces in Lawsuit Against Company
  • Allegations against former CEO of B2C2 Philip Gillespie surfaces again in a lawsuit against the company.
  • The company’s former global head of options trading Brad Nagela, accused the company of wrong dismissal.
  • She claims the company dismissed her for reporting the wild activities of Gillespie at a conference last year.

Allegations against a former Chief Executive Officer of London-based crypto liquidity provider B2C2 Phillip Gillespie have surfaced again, following a lawsuit against the company by a former employee, according to a Bloomberg report.

In particular, Brad Nagela, the company’s former global head of options trading sued B2C2 for wrongful dismissal. According to the filing, his employment was terminated because of his outcry against Gillespie following the events that occurred at a Bitcoin conference, last year.

Nagela alleged that Gillespie, last year, was caught in a string of allegations including excessive alcohol drinking, cocaine use, and hallucinogens. Furthermore, the lawsuit also covered that Gillespie also indulged others in his activities, including a 19-year-old intern.

According to the report, Nagela took the legal route this September, initiating a lawsuit against the company.  Nagela noted that he filed a complaint after receiving an email from the father of the intern, expressing concerns about her attendance at the conference.

An internal investigation conducted by B2C2 also revealed that Gillespie, who was based in Japan, had arranged to fly the intern from Thailand to Miami to accompany him to the conference.

However, Gillespie in an email to Bloomberg refuted the claims, calling it mere hearsay. He further stated that Nagela, who is making these claims, wasn’t even present at the conference in question. Additionally, the intern in question has also disputed the claims, calling it false. According to her, her rumored relationship with Gillespie is untrue.

B2C2 said it plans to tender evidence that Nagela was fired after a period of “significant underperformance.” On the other hand, Nagela’s lawyer, Jacqueline Tillman, said Nagela fulfilled an ethical and regulatory obligation by reporting misconduct and financial malfeasance.

Despite the claims by the company, Gillespie’s departure comes two months after the allegations raises suspicions. Likewise, the company’s reluctance to state the reason why the former CEO had to leave his role. Phillip Gillespie is currently a managing partner at AWR Capital – a crypto hedge fund.

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