Jack Dorsey's Block Engaging In Fraud: Hindenburg Research

Jack Dorsey's Payment Firm Block Involved In Fraud: Hindenburg Research

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US based short seller firm Hindenburg Research has accused Block of engaging in fraudelent activities.

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Former employees estimated that 40%-75% of accounts they reviewed were fake, report claimed.

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Jack Dorsey's firm facilitated payments for criminal activity and disregarded AML and KYC regulations.

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The platform has been overrun with scam accounts and fake users, according to numerous interviews with former employees that Hindenburg conducted..

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Jack Dorsey and other top executives engaged in insider trading, report claims.

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According the report, the fintech firm also flouted several banking regulations as well.

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Formerly known as Square, the fintech firm's shares are down 20% pre market.

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