BTC Wires

Why Did The Winklevoss Twins’ Lawyer End Up With A Fine of 15,000 USD?

According to a report from Fast Company as published on March 7, 2019, the Winklevoss Twins who had sued Bitcoin entrepreneur Charlie Shrem for defrauding them of at least 5,000 Bitcoin which was worth $31 million at the time of filing the suit were misled into taking “legal missteps” by their lawyer Tyler Meade. This also has led them to lose more money which is inclusive of the reimbursement of Shrem’s legal fees. The lawyer Tyler Meade has been fined for a steep $15,000 in fees due to what the court called “improper behaviour.” The lawyer had misdirected his clients during the hearing which had resulted in the judge ordering them to pay the respondent $45,000 to recover his legal fees for defending himself in a hearing that became erroneous. Meade in a way of an apology said,

“I clearly made some determinations that were incorrect, and I’m sorry for that, profoundly sorry for that.”

Meade’s “improper behaviour” was wasting the court’s time during the last hearing and the fact that the entire hearing has to be redone. The publication notes that during the February disposition:

“Meade made dozens of objections to questions and instructed his clients not to answer on the grounds of relevance, which is not allowed in a civil deposition; […] Shrem’s lawyers reportedly described Meade’s conduct as “obstructive behavior.”

The twins, Cameron and Tyler Winklevoss went to court after suspecting Shrem was living large on the Bitcoin he owed them since 2012 when they converted their windfall from a settlement with Facebook founder Mark Zuckerberg into a cryptocurrency fortune. The 5,000 Bitcoin would be worth $31 million at that time. The twins, when they went to the court on suspecting that Shre, in fact,t owed 5000 bitcoins, said in the suit’

“Either Shrem has been incredibly lucky and successful since leaving prison, or — more likely — he ‘acquired’ his six properties, two Maseratis, two powerboats and other holdings with the appreciated value of the 5,000 Bitcoin he stole from.”