Michael Blum Successful Investor or King of the Crime?
When the name Michael Blum is mentioned, what comes to mind is a successful businessman and CEO of Xcor. Well, this may change once you hear what Blum has been up to lately. It seems like he is tired of the hassle, and he is now sorting shortcuts.
Blum is facing charges after software that has been circulating and getting into private records of businesses traced back to him. A group of business owners formed an organization to investigate the virus after paying lump sums with the threat of their secrets being revealed.
One CEO says that things got out of hand when the blackmailers demanded millions of dollars with the threat of exposing their strategy to their competitors. According to the CEO, the firm has spent a lot in researching on the methodologies. Losing them would, therefore, mean closing down the business. In return, thousands of people would’ve ended up unemployed, which could significantly affect the community.
This explains why Xcor has been experiencing significant losses. It’s suspected that Michael Blum is using his malicious software to steal from the firm. Following these developments, Xcor has been declared bankrupt.
Who knew Michael Blum was capable of conning a business that he is running? Well, greed can cause people to do all kinds of awful things. What Blum has been doing is ruthless and selfish. It could have led to unemployment and closure of multiple businesses.
All the community can hope is that the law takes this issue seriously and puts him behind bars.
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