Home News Bitcoin Charlie Shrem Emerges Victorious As Judge Rules in His Favour Against Winklevoss...

Charlie Shrem Emerges Victorious As Judge Rules in His Favour Against Winklevoss Twins

November 09, 2018 13:04
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Source: Bitcoin Exchange Guide

In what will come as a win, a judge presiding over the Winklevoss twins’ V/s the Charlie Shrem case, ordered law enforcement to end freeze over Shrem’s assets. Yesterday, Crypto-News India  had reported on how, the Winkelvoss twins- Cameron and Tyler- had filed a lawsuit against Shrem for allegedly stealing 5000 Bitcoin from against them, back in 2012.

Although the Winklevoss brothers sued Shrem in September, the matter was under a seal until October this year when the documents were made public. According to a report by news portal CoinDesk, the twins claimed that while they paid him $1 million to purchase bitcoin on their behalf in September 2012, he failed to deliver 5,000 coins, instead keeping them for himself. At press time, they would be worth approximately $32 million.

However, according to a report by news portal Bloomberg, Shrem’s lawyer, Brian Klein, said most of his client’s holdings are in real estate and the value of his cryptocurrency investments has “shrunk dramatically” since he made those statements about his assets. He said the lawsuit is a dispute over $61,000, which he agreed to place in escrow should his client lose the case. Klein called Thursday’s ruling an important first step toward Shrem’s “complete vindication.”

Earlier, the advocate representing the twins, Tyler Meade had argued that the freeze should continue, given that Shrem had recently purchased a $2 million home in Florida, and had claimed to hold $12 million in real estate holdings, cryptocurrency and other investments. Despite there was no official record to prove so, the twins ‘believed’ Shrem to possess properties. Meade had stated, “We do not have to show that he is actually hiding assets, although we believe he is.”

However, this is not the end of the story. A trial has been scheduled on June 17, 2018, as per the Bloomberg report.

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