PipFarm, a controversial proprietary trading company, has been at the center of public turmoil recently. Allegations of unpaid invoices, misconduct, and data sharing have escalated over the past week, with tensions rising on social media amid conflicting statements from stakeholders, including the company’s CEO.
Complaint from former employee about unpaid bills
A dispute erupted after a former group member named Ana Skender complained that she was owed more than $33,000 in unpaid invoices. Skender said the company repeatedly delayed the payment date but never delivered. The dispute escalated when she tried to raise the issue on The PipFarm’s official payment notice, but the post was deleted. She sparked a huge debate on social media when she went public with details of the incident, attracting the attention of traders and industry watchers.
Community accusations of misconduct
Tensions escalated when Adam Kred, another former employee of the company, issued a lengthy statement criticizing serious misconduct. He claimed that the company had intentionally delayed payments and unilaterally terminated contracts with many traders unfairly. In particular, Adam Kred accused PipFarm CEO James Glyde of failing to follow security rules by sharing customer data with other self-employed companies through a private group, raising many concerns in the community.
E8 Markets strongly refutes
Mentioned by Kred in the series of accusations, E8 Markets was quick to issue a public rebuttal.
Dylan El Chami, CEO of E8, spoke out to deny this, calling this a “serious and untrue allegation”. He emphasized that the company has never disclosed customer information to a third party, and asked for clear evidence.
In support of the management, an E8 risk manager also stated that the company is not involved in any disputes and data security is always a top priority.
Both he and the CEO have completely denied any involvement, stressing that E8 should not be drawn into unverified allegations.
Response from CEO James Glyde
PipFarm CEO James Glyde addressed the dispute with former employee Ana Skender and the rumors from stakeholders in an official statement. He said the company had offered a settlement that covered performance bonuses and disputed invoices. Glyde said the deal was designed to be paid in 10-week installments to provide a ‘security mechanism’ while the situation stabilized.
He added that a partial payment had been made before Skender repeatedly rejected the deal. After being rejected, Glyde said the company was forced to move on to another option, based on the results of an ongoing internal investigation.
James Glyde, CEO of The PipFarm, has denied any online allegations that the business is affiliated with E8 Markets or its agents. Responding to a post by @adamkred, he asserted that “The PipFarm, myself, or any of its representatives have never engaged with or shared information with Dylan Elchami or E8 Markets, and vice versa.” Glyde called for a retraction of what he called speculative and damaging allegations, stressing that PipFarm is “operating as usual” despite the current controversy.
Ana’s Rejection
Ana’s response was short and direct: “no negotiations,” reflecting her rejection of the installment agreement and her objection to Glyde’s proposed solution to the problem.
Current status of the dispute
The current dispute focuses on three main issues:
- The unpaid invoice is believed to belong to a former employee.
- Serious misconduct allegations from a former colleague
- Reputational concerns surrounding data sharing, which rival companies like E8 have vehemently denied.
To date, there has been no independent verification to confirm or deny the claims, leaving the controversy to continue. With conflicting opinions from many sides, the incident has no clear conclusion and continues to receive great attention on trading forums as well as social networks.
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