A former compliance officer in the City has won more than 500,000 in compensation after he was fired for whistleblowing.
Bharat Bhagani worked at Goldenway Global Investments and was asked to secure a work visa for an employee who later was alleged to be a Chinese spy.
Bhagani successfully took Hong Kong-headquartered Goldenway to tribunal in 2022 and his compensation has just been established in a remedy hearing.
He told the tribunal that he had disclosed to the Financial Conduct Authority, the City regulator, that there had been two unauthorised appointments of Hong Kong residents to Companies House.
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He made further protected disclosures including allegations of money laundering, unauthorised persons acting as directors and fraudulent intercompany loans.
Bhagani told directors at the company that he had asked the regulators to look into the issues and to “stop all communication with London staff”, because this would prejudice an investigation.
He added: “I have called in the regulators and I am certainly not stepping down. I represent the FCA.” The company was subject to FCA restrictions until it was shut down in 2022.
After raising the alarm with the regulator, officials told him the worker he had been asked to secure a visa for was a “Chinese espionage agent” who had been deported, the tribunal heard.
In June 2022, Goldenway sent Bhagani...
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