Last year, the Cameron and Tyler Winkelvoss twins sued Charlie Shrem–the disgraced founder of the now-defunct cryptocurrency exchange BitInstant. The brothers alleged that between 2012 and 2013 they paid Shrem $750,000 to buy bitcoin, but were stiffed by about 5,000 bitcoin. Back then, the value of the supposedly lost coins was $61,000; at the time the Winklevoss twins sued Shrem, the coins were worth around $31 million.
But the bitcoin-evangelizing duo have had some recent court missteps. For example, a judge ordered the twins to pay $45,000 to recoup Shrem’s legal fees for defending a motion that was ultimately rolled back. And now, the Winklevoss twins’ lawyer, Tyler Meade, was ordered to pay $15,000 in fees because of “improper behavior,” reports Law360 (paywalled).
Essentially, the lawyer allegedly made many legal missteps during a deposition in February. “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,” writes the legal publication. Shrem’s lawyers reportedly described Meade’s conduct as “obstructive behavior.” And the judge agreed–Meade was ordered to pay the steep amount to make up for the wasted time of the last deposition, as well as the fact that they now have to redo it.
Meade was reportedly apologetic when discussing his conduct. “I clearly made some determinations that were incorrect, and I’m sorry for that, profoundly sorry for that,” he told the judge. We’ll see if these setbacks and fines further hurt the Winklevoss twins’ case as it continues.