Posted 2 years ago | by Ben Armstrong

Craig Wright Challenges Court Order Requiring Him to Pay 500K Bitcoin

In a much watched legal battle, the self-proclaimed creator of Bitcoin (BTC) Craig Wright is questioning a recent court order requiring him to pay 500,000 BTC to the estate of a former colleague.

In a widely unexpected move, on Aug. 30 Wright’s attorney, Andres Rivero, filed a document asking for a fourteen-day extension to file a motion challenging Magistrate Bruce Reinhart’s finding in favour of Dave Kleiman’s estate.

This motion was submitted to the United States District Court for the Southern District of Florida.

Craig Wright Wants More Time

Despite the legal bravado, Rivero misspelled the Judge name, and stated that Wright “does not concede that Magistrate Reinhardt had the power to enter the order that he did”. There was an addendum stating that the entrepreneur’s legal team will need an additional fourteen days to address the validity of the order.

Due to Wright’s new request, the original deadline of September 10, 2019 would be moved to September 24, 2019.

By using the justification of extreme weather in the form of Hurricane Dorian, a category five storm bearing down on Central and South Florida, Wright’s legal team requested extra time, as “counsel for Dr. Wright have been expending significant time preparing for the hurricane, which has limited their ability to work on this matter.

In the conclusion of the request, Rivero insisted that the motion was “brought in good faith” rather than for “purposes of delay.

Ongoing Litigation

The estate of Dave Kleiman filed suit against Wright in February 2018. In the original complaint, the plaintiff alleges that Wright stole hundreds of thousands of BTC, worth more than five billion dollars, from the late computer scientist’s estate.

Following the initial ruling by the judge, Wright ominously warned that this pay-out could bring volatility to the cryptomarkets, since the Kleimans may have to sell a large portion of BTC to pay any estate taxes.

Cryptocurrency podcaster Peter McCormack, who was previously sued by Wright for accusing him of fraud and falsely claiming to be the real inventor of Bitcoin, questioned Wright’s ability to pay 500,000 BTC at all.

In the tweet above, from Aug. 28, McCormack bet $10,000 that Wright does not have access to that amount of Bitcoin. The fate of Wright is still a long way from sealed, and there appears to be tremendous interest in a man who claims to be Satoshi Nakamoto.

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Craig Wright Fighting Back at Court RulingBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.