A top executive at the Los Angeles Department of Water and Power has been placed on administrative leave while the utility looks into his involvement in the bitcoin mining industry and whether he complied with ethics rules that require employees to obtain permission for outside work.
Chen was placed on leave last month after The Times asked the DWP about Chen’s ventures, according to a source at the utility.Is there abandoned furniture on your block? Pothole driving you nuts on your commute? Use Shape Your L.A. to learn how to get your city government to address everyday issues. Chen, in an interview with The Times, likened the bitcoin businesses to owning real estate or stock and said he didn’t need the utility’s permission to work on it.Chen’s lawyer, Michael Faber, said Chen is “exploring all of his options, including the possibility of litigation” against the DWP.
Chen said he chose to invest in Colorado Springs because he was able to get “a one-of-a-kind building.” He secured a “very low” rate in Colorado Springs for electricity, he said.