In an intriguing development, a U.S. court in Florida has firmly declined a request from W&K Info Defense, the entity which triumphed over Craig Wright last December, winning a hefty sum of over $100 million. The request centered around imposing criminal sanctions on Wright for incorrectly filling out a vital financial disclosure statement, but simultaneously, the court allowed for some civil sanctions to advance.
The heart of this matter lies with Wright’s obedience to a so-dubbed ‘Compulsion Order’ which mandated him to furnish a thoroughly completed financial disclosure form by a set deadline in April 2023. The document in question, designed for judgement collection purposes, requires an exhaustive account of the debtor’s financial climate.
Curiously, “At oral argument, Dr. Wright’s counsel conceded that the March 30 version of the Form omitted required information,” according to the court document. Indeed, this incomplete version of the form lacked several critical details, including his employer’s address, details pertaining to his spouse, and data about whether he maintained any bank accounts.
Meanwhile, W&K Info Defense has also raised a flag over the inadequate disclosure relating to Wright’s property in his native Australia, as well as undisclosed bitcoin holdings. They argue that “Wright…appears to be generating income from selling bitcoin.”
In response to these allegations, Wright insists in his filing that the requirement doesn’t entail him to reveal bitcoin held on-chain, a stance with which the Presiding Judge Bruce Reinhart concurs. Notably though, the court declined W&K Info Defense’s appeal for a restraining order to be placed on Wright’s assets, and for hefty daily penalties and attorney fees to be instituted.
However, in a fascinating turn of events, Judge Reinhart did grant permission to launch “remedial civil contempt proceedings.” This marks a provocative crossroad, where the requirement of thorough financial disclosure intersects with the often complex realm of bitcoin holdings and their disclosure, sure to spark further debate among the crypto enthusiast community.
Source: Coindesk
