- Jihan Wu has been accused by Micree Zhan of a litany of crimes
- Zhan says that Wu faked the board meeting at which he was ousted, embezzled company funds, and stole business licenses
- Wu yet to respond, but reply is anticipated
The battle for control over Bitmain has been kicked up a notch after ousted CEO Micree Zahn posted a long list of crimes allegedly committed by his foe, Jihan Wu. Zhan claims Wu has committed a number of “illegal, unlawful and illegitimate” actions, including illegally obtaining business rights, illegally transferring business ownership, and embezzlement of company funds.
Micree Zhan Trying to Send Jihan Wu to Jail
The latest instalment of the Battle of Bitmain is perhaps the most audacious yet, with Zhan accusing current Bitmain CEO Wu or a whole host of crimes over the last year, many of which would individually represent a jail sentence, but taken as a whole would see Wu in prison for decades.
Time to sell all your bch, Jihan might go to jail. Micree posted a announcement, listed all the illegal things that Jihan did in the past. In that announcement Micree said he has 36% company share of Bitmain in Cayman, 59.6% of voting rights… pic.twitter.com/xkau24dFrH
— Molly (@molllliy) June 22, 2020
Zhan claims that he is still legally the Biitmain CEO as he legally retains 36% of the copmany and 59% of the voting rights within the company, which no one is allowed to change without his consent. Last October Wu took advantage of Zhan’s absence at a conference in London to attempt a coup and regain control of the company, allegedly instructing shareholders to strip Zhan of his voting rights and fire him as company director. Zhan however claims this meeting never took place and the entire episode was faked.
Zhan: Wu Stole Business Licenses
Zhan also claims that Wu stole the business license and company stamp from Bitmain Beijing to change the Bitmain Hong Kong company representatives to himself and Bitmain’s CFO. Once he had fraudulently taken over, Zhan claims that Wu then sent a team to rob Zhan of another business license and moved the company offices so they couldn’t be located. Zhan further accuses Wu of “direct embezzlement of company assets in the name of shareholders”, which is perhaps the most serious crime on the charge sheet.
Zhan paints a picture of Jihan Wu as a power-hungry dictator who thinks he is above the law, dragging Bitmain’s reputation through the mud as he tries to illegally regain control. Of course this is all conjecture and opinion, and Wu has yet to respond, and until all the issues are settled in a court of law we have to take such comments with a pinch of salt.