Saturday, July 2, 2022

Canada court freezes $20 million in bitcoin and cash donated to truckers.

The Takeaway:

Residents of Ottawa seek to redistribute as much as $20 million donated to the Freedom Convoy in bitcoin and cash to the citizens of Ottawa.

According to the Globe and Mail report, the residents of Ottawa, Canada, have filed a lawsuit against the Freedom Convoy 2022 protesters seeking up to $20 million out of the total amount of money raised in donations worldwide to be redistributed to citizens of the city. An Ontario Superior Court judge in Ottawa has ordered the freezing of the protesters’ funds. 

 

The court orders the Freedom Convoy to freeze funds.

The freezing order, also known as a Mareva injunction, orders the convoy protest leaders and institutions involved in the fundraising that they are now restrained from “selling, removing, dissipating, alienating, transferring” any of the assets raised in the donations campaigns, including bitcoin. The court order lists protest leaders and Bitcoin addresses attributed to each one of them, saying they aren’t allowed to move such funds. The order adds that any Bitcoin addresses that receive funds from the listed addresses will also be targeted, mentioning that chain analysis may be used.

 

The order allows the plaintiff’s lawyer to appear alone before a judge and request that funds be blocked.

“We have not been served with the order or related court documents,” a lawyer representing the convoy protesters told The Globe and Mail, adding that he only learned of the court order through media reports. A Mareva injunction allows a plaintiff’s lawyer to appear alone before a judge in Canada to request that funds be blocked, per the report. It is rarely used. According to the report, this Mareva injunction targeting entities known to hold assets for the convoy is separate from the federal government’s efforts to seize the same funds.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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