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Xsolla, the global payment handler for game transactions, has been sued by a former accounting vice president who alleges the company mishandled $40 million.
Emil Aliyev, former vice president of global accounting at Xsolla, also alleged that the company fired him after he blew the whistle on financial crimes.
The company handles more than 700 types of payments for game transactions around the world and works with big game companies such as Epic Games, Unity and Roblox. Aliyev filed the wrongful termination and retaliation against a whistleblower lawsuit in Los Angeles Superior Court last week.
In a statement, the company said, “Xsolla vehemently denies Mr. Aliyev’s wholly-unfounded allegations which are, at best, without merit. Xsolla intends to zealously defend these claims and work to fully vindicate the non-party employees wrongfully mentioned in the complaint.”
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Xsolla continued, “This situation does not and will not in any way impact our ongoing operations, financials, or our ability to supply you and your video game business with best-in-class uphold. We remain dedicated to providing excellent service and upholding the trust you have placed in us. We appreciate your continued partnership and uphold.”
The lawsuit said Aliyev found $40 million was missing from two accounts back in May 2023 and later learned that the money was sent to a Goldman Sachs bank account that belonged to Xsolla’s founder and chairman Aleksandr Agapitov. The suit also said Xsolla hasn’t passed an IRS audit since 2017.
Aliyev said in May he reported what he found to Leon Perry, CFO, saying it was illegal to loan money to Agapitov without charging a standard interest rate, which Xsolla didn’t do. He also said Xsolla neglected to report this to the IRS. Perry reportedly told him it was not Aliyev’s problem.
Agapitov reportedly met with Agapitov on July 28 about the violation of finance rules and was fired shortly afterward.
This month Ukraine also called out Xsolla for allegedly helping Russia by leaving a major office there despite giving the impression that it was pulling people out of that country in the wake of the Ukraine war.
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