Stack Wealth, a fintech company that has promised innovative solutions and a promising work culture, is now in the spotlight for all the wrong reasons. Vishnu Prasad, a former employee, has come forward with alarming allegations about the company’s toxic workplace practices, exploitation, and financial mismanagement.
Unjust Termination and Withheld Salaries
Vishnu Prasad, who joined Stack Wealth as a fresher in the fintech industry in November, claims that he was terminated abruptly on January 4, 2025. This decision came without prior notice, clear justification, or clarification.
Despite delivering exceptional results, including successfully persuading clients to invest in the company’s services, Vishnu’s termination was communicated just a day after his December salary was due. To his shock, his December salary was withheld, with the company citing vague reasons for his removal.
“When I asked for clarification on my termination, I was told my performance wasn’t enough. However, I later discovered that I was one of many employees terminated that day without valid reasons,” Vishnu stated.
Allegations of Financial Mismanagement
Adding to the controversy, Vishnu highlighted that Stack Wealth owes Rs. 7.5 lakhs in unpaid rent for their office space. He also alleged that when employees confronted the company about these issues, they were met with rude behavior, mismanagement, and even verbal abuse.
In a particularly shocking revelation, Vishnu claims the company’s CEO dismissed his concerns about unpaid salaries with the statement: “You can go anywhere; you won’t get any salary from me.” In a video shared by Vishnu, the CEO was also seen addressing a fellow employee as “stupid,” further exemplifying the toxic culture within the organization.
Broken Promises and Deceptive Practices
According to Vishnu, his agreement with Stack Wealth included a Full and Final (FNF) settlement within 45-60 days of termination. However, when he inquired about his FNF, which included a month’s salary, he was told that he “didn’t meet the benchmark” and would not receive the settlement.
Vishnu’s experience also underscores a pattern of deceit. He resigned from the company in December but was persuaded to return by AVP Rahul Raj, who promised a secure future, a salary hike, and a recommendation letter. Despite these assurances, he was terminated just a month later.
A History of Misleading Employees
The allegations don’t end there. Vishnu accused Stack Wealth of a systematic pattern of hiring employees from the EdTech industry under false pretenses.
“They promise a three-month salary hike during the hiring process but fail to deliver even a single month’s salary,” Vishnu revealed. He described these practices as a “scam” and called for accountability for the company’s actions.
Call for Accountability
Vishnu’s story is a sobering reminder of the challenges employees can face in toxic workplaces. His decision to speak out reflects a growing demand for transparency and fairness in corporate practices.
The allegations against Stack Wealth, if proven, point to a troubling culture of exploitation, broken promises, and financial mismanagement.
What’s Next?
As of now, Stack Wealth has not issued a formal response to these allegations. The company’s silence raises further questions about its commitment to ethical business practices and employee well-being.
The claims made by Vishnu Prasad are a wake-up call for organizations to prioritize transparency, accountability, and respect for their employees. It remains to be seen how Stack Wealth will address these serious accusations and whether justice will be served for those affected.
Source: Linkedin