The disgraced former chief executive of BitInstant called a lawsuit by Tyler and Cameron Winklevoss’s Winklevoss Capital Fund a “scandalous and fantastical story,” and urged a U.S. judge to throw it out.
The Winklevosses claim that Charles Shrem used part of their 2012 investment of $750,000 in BitInstant to buy 5,000 bitcoins, then priced at $61,000, for himself. The bitcoins would be worth $32 million today. The Winklevosses sued in September accusing Shrem of fraud.
Shrem responded Nov. 5 in papers filed in New York federal court claiming the 5,000 bitcoins were the property of a “prominent bitcoin industry...
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