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Layer1 co-founder sues former partner

November 4, 2020

Jakov Dolic, Co-founder of the American company focusing on Bitcoin (BTC) mining, Layer1, has filed a lawsuit against his former business partner Alexander Liegl.

According to court documents presented on October 30th Dolic claimed Liegl ultimately failed to raise funds for the company. As a result, Dolic had to pull $ 16.24 million out of pocket to buy a power plant for the mining company. He also claimed that he had spent Another $ 3.5 million to expand this facility.

Dolic felt betrayed by his investment, having regard to the fact that Layer1 took full legal possession of the assets in question. Dolic later had an argument with Liegl for moving Layer1’s funds without authorization. Liegl is said to have forced him to leave the company.

Layer1 co-founder sues former partner
Layer1 co-founder sues former partner

Dolic hopes with the lawsuit “Claim your rights to the properties you bought directly from the seller.” The court documents state that while Layer1 technically owns the property, the power plant and its expansion “You are right and just belong to Dolic.”

It’s not the first time Dolic has been involved in a lawsuit within the crypto industry. On September 30, 2019 Digital capital, a London-based payment company, sued Genesis Mining, another company co-founded by Dolic.

This was alleged in the complaint Genesis Mining did not pay for the development and maintenance of its credit card software. The company’s bills were approximately $ 3.1 million. March, Genesis Mining Island claimed in a trial that Digital Capital did not offer Software with additional capabilities “peripheral functionality”.