Tanya Abrosimova
Independent Analyst
- Winklevoss ordered to reimburse Shrem for legal fees.
- The dispute between former business partners deepens.
Cameron and Tyler Winklevoss will have to compensate entrepreneur Charlie Shrem for legal fees worth of $45,000.
A short reminder: the Winklevoss accused Shrem of a failure to broker promised cryptocurrency purchases on their behalf and suited him for that. They were able to seize up to $30 million worth of his assets.
Meanwhile, Judge Jed S. Rakoff from the U.S. District Court of the Southern District of New York ruled on Thursday that Shrem should be reimbursed for legal fees related to prior court.
Winklevoss lawyers argued that Shrem was not eligible to recoup the costs as he was only charged a “de minimis amount” of less than $5. However, the Judge dismissed this idea and ruled to reduce the requested damages by 40%.
“We are glad that the judge ruled for Charlie and ordered WCF to reimburse him for legal fees he incurred in overturning WCF’s approximately $30 million attachment order. This is another big step towards his full vindication,” Brian Klein, the partner at Baker Marquart LLP, commented.
Winklevoss Capital invested money in Shrem’s cryptocurrency BitInstant. It used to be very popular before its eventual shut down in 2013. Shrem was also accused of breaking anti-money laundering regulations.
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