Investors sue Washington state bitcoin mining magnate who they say bilked them for millions

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contacted.org/investors-sue-washington-state-bitcoin-mining-magnate-who-they-say-bilked-them-for-millions/

Malachi Salcido, founder of Salcido Enterprises, used his expertise building large climate-controlled buildings to set up a bitcoin mining operation in the Wenatchee Valley. (GeekWire File Photo)

Investors who bet big on Malachi Salcido, a self-described bitcoin mining magnate, now claim the Washington state man busted his own business, and may have cost them millions of dollars.

A group of investors who sunk $8.5 million into Salcido’s bitcoin mining company, StepChange, claim the Wenatchee man misappropriated, embezzled or otherwise misspent $2.4 million in company money over three years. At one bitcoin mine that he owns, Salcido charged StepChange —

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Business Ethics

By: contactedorg
Title: Investors sue Washington state bitcoin mining magnate who they say bilked them for millions
Sourced From: contacted.org/investors-sue-washington-state-bitcoin-mining-magnate-who-they-say-bilked-them-for-millions/
Published Date: Fri, 12 Mar 2021 16:17:33 +0000


source https://contacted.org/investors-sue-washington-state-bitcoin-mining-magnate-who-they-say-bilked-them-for-millions/