In line with a recent report published by ‘Bloomberg’ on 8th Nov., Judge Jed Rakoff has ruled to finish the freeze on Charlie Shrem’s assets during a lawsuit brought against him by the Winklevoss brothers.
In a case unsealedwithin theU.S. District Court for the Southern Districtof NewYorkearlier this month, the Winklevoss twinsmaintainthat Shrem tooka part oftheir $250,000 USD investment in his exchange BitInstantto purchase for5,000 Bitcoins [BTC].
The Winklevosses argue that Shrem used the Bitcoin [BTC] heheldwith theirassetsto furnish a lavishlife-stylehaving served a year injailforservingusers of the now-defunctSilk Road Routemarketplacecreating illicitpurchases.Court
The New York Times quoted the lawsuit as claiming:
“Either Shrem has beenimprobablylucky andwinningsinceleavingjail, or moredoubtlessly— he ‘acquired’ his six properties,2Maseratis,2powerboats and alternativeholdings with the appreciatedworthof 5,000 Bitcoin [BTC] hestole.”
Shremsupposedlyargues that hene’erownedthe Bitcoins [BTC],andthey’rethe property ofan unknownindustryecosystem.
In line with Bloomberg, the Winklevoss’attorneyTyler Meade argued that the freeze on Shrem’s assetsought tocontinue, claiming that he possessed $12 Mlndollarsin cryptocurrencies, real estate holdings, and otheralternativeassets.
While Meade reportedlyaforesaidthat the brothers’ lawyers havesoughtdataon Shrem’s holdings from overthirtyestablishments,they needsolelya paltry $10 USD in assets atthis time. As per the report, the partiesin agreementdecided that Shremmightpayup to $50,000 USD on monthly expenses.
Shrem’sattorney, Brian Klein,aforesaidthat the allegations that Shrem used Bitcoin [BTC]to buycars andhouseshad “no basisindeedor law.” Bloomberg quotes Klein asspeechthat the recent ruling on Shrem’s assetsis aninitiativetoward his client’s “complete vindication.”An endeavorhas reportedly beenscheduledfor 17th June, 2019.