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Uphold's former chief compliance officer allegedly misdirected corporate and user funds. He denies the claim, though a private investigator says there may be more.

Digital finance platform Uphold has dismissed its chief compliance officer, claiming he pocketed corporate and user funds.

The company said Sameer Ismail, 39, a stalwart of the U.K. crypto scene, had “wrongfully and fraudulently misdirected” corporate and user funds totaling £516,242 (US$732,495), all of which has been replaced.

When asked if he was guilty of stealing any cryptocurrency, Ismail told CoinDesk in a brief phone interview Friday, “I categorically disagree. It’s messy. This allegation of theirs [Uphold’s] was directly in response to me filing a breach of contract against them.”

Prior to joining Uphold, Ismail held the position of chief compliance officer at Luno (now owned by CoinDesk parent company Digital Currency Group) and chief risk officer at Denmark’s Coinify in 2018.
Ismail was even hired by the Financial Conduct Authority (FCA) to talk about financial crime and appeared on numerous panels to discuss cryptocurrency regulation. At an event organized by the U.K. regulatory body in 2018, he appeared alongside the FCA’s executive director, Christopher Woolard, and City of London Police Financial Intelligence Analyst Fred Ellis.
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