San Francisco-based Bitcoin mining company Layer1 Technologies has been hit with a lawsuit by its own CEO John Harney and investment firm, DGF Investments. 

The complaint accuses Layer1’s founder Jakov Dolic and board member Tobias Ebel of exploiting an alleged state of corporate paralysis at the Swiss private equity firm Enigma Holding (Layer1’s parent company) to seize control of the mining company and loot it for personal gain.

The lawsuit — filed by John Harney and DGF Investments Inc. in Delaware’s Chancery Court —accuses Dolic of attempting to run Layer1as his “own personal fiefdom.”

Dolic and Ebel have “wielded their majority board control to ransack Layer1, operating it for their own benefit and engaging in self-dealing transactions with impunity,” …