Cameron and Tyler Winklevoss are reportedly suing early bitcoin investor and entrepreneur Charlie Shrem over thousands of bitcoin they allege he owes them from a previous business deal.
According to a report from The New York Times on Thursday, Shrem – who previously spent a year in prison for money laundering and operating an unlicensed money-transmitting business related to the BitInstant exchange that he founded – had helped the Winklevoss brothers invest in bitcoin back in 2012.
Acting as their first crypto adviser, Shrem had accepted $750,000 to buy bitcoin on their behalf, according to the NYT citing a lawsuit launched by the twins in September and unveiled today. Later, in September 2012, they gave him $250,000 for the same purpose, the lawsuit alleges, but later realized that Shrem had not given them the full value of the amount in bitcoin.