Ongoing Lawsuit Results in Order for Winklevoss Brothers to Pay Charlie Shrem $45,000 In Legal Fees


There’s an ongoing legal battle between Charlie Shrem and the Winklevoss brothers, which all started when Shrem was still new to the crypto industry. Winklevoss Capital, run by Cameron and Tyler Winklevoss, invested in BitInstant, which was the first startup of Shrem’s. This crypto exchange was shut down in 2013, but it was the most popular platform of its time. However, Shrem’s violation of anti-money laundering laws as a CEO led him to be jailed for a year.

Still, there’s a lot that changed between his jail time and the current case. In one of the most recent developments in this case, the legal fees that Charlie Shrem incurred will now be covered by the Winklevoss brothers.

The order to cover the charges was filed in the US District Court of the Southern District of New York on February 7th by Judge Jed S. Rakoff. He ruled that Shrem should have his court fees reimbursed, following another ruling that the plaintiffs would have permission to have $30 million of his assets seized. Back on November 8th, Shrem had filed a motion to request this reimbursement.

The Winklevoss Capital lawyers quickly spoke up, saying that there should be no reimbursement for the costs, considering that he was only charged a “de minimus amount” of under $5. Still, the court saw that the claims from the lawyers made Shrem’s claim invalid, even though the judge believed that only 60% of the damages should be awarded.

Brian Klein of Baker Marquart LLP spoke on the ruling, saying,

“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.”

This is only the most recent change in the lawsuit. To view the legal injunction, visit https://www.scribd.com/document/399146885/Winklevoss-Brothers-Charlie-Shrem-s-Legal-Fees#from_embed.

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