Reported by JENNIFER CONRAD

Human resources payroll startup Deel has been accused of money laundering and sanctions evasion, according to a complaint brought in federal court in Miami. The San Francisco-based startup was founded in 2019 by Alex Bouaziz and Shuo Wang on the promise of simplifying paycheck processing, tax reporting, and other financial paperwork for HR departments in companies that have employees around the globe.  

In particular, the startup is accused of partnering with a Russian bank to transmit money to Russia, in violation of U.S. sanctions. Deel’s platform is also accused of facilitating transfers by a person named Brent Seaman and his company Surge Capital Ventures. Seaman was slapped with a Securities and Exchange Commission enforcement action in 2024, after the agency determined he ran a Ponzi scheme to defraud elderly victims who were members of a Naples, Florida, church. 

Although Deel has not been accused of any wrongdoing by the SEC, the civil complaint was brought in federal court in Miami by Melaine Damian, a court-appointed receiver recovering damages from the SEC’s case against Seaman. 

Read full report: https://www.inc.com/jennifer-conrad/payroll-startup-deel-accused-of-money-laundering/91106552