Dan Price resigns as CEO of payments firm after misconduct allegations

Price, who cut his salary to give pay rises to all Gravity Payments' 120 employees, faces assault and reckless driving charges

Dan Price, the chief executive of a Seattle-based credit card processing company who made headlines when he implemented a $70,000 minimum wage, has abruptly resigned after accusations of misconduct and misdemeanor criminal charges that he assaulted a woman after a dinner meeting.

Price, who started Gravity Payments in 2004 at age 19, wrote in an email he was stepping away from the company because my presence has become a distraction here.