March 27, 2024
Latest Cryptocurrency News

Romanian Prosecutors Seize $500K + Worth of BTC from Andrew Tate

Prosecutors in Romania have taken action against well-known social media personality and former professional kickboxer Andrew Tate, who has been accused of rape, human trafficking, and organized crime related to the sexual exploitation of women. Reportedly, his assets, including Bitcoin holdings, are being seized.

Initial reports suggesting that the seizures amounted to $300 million have been proven incorrect. It was revealed that a Google Translate error in a press release from Romanian authorities led to the misinformation, which was widely circulated by news outlets on June 20.

In the latest development, Romanian prosecutors have successfully confiscated a significant amount of Bitcoin from Andrew Tate. Contrary to earlier reports, the confiscated bitcoin is valued at approximately $560,000, equivalent to around 21 BTC. Alongside the cryptocurrency, authorities have also seized 15 luxury cars, 14 watches, 15 properties, and shares in four companies.

The Romanian Directorate for the Investigation of Organized Crime and Terrorism’s Office of Information and Public Relations issued a press statement stating that the indictment involves four defendants, including Tate’s brother, Tristan.

The accused individuals will face trial while under house arrest as the legal proceedings progress. The specific charges against Andrew Tate and his co-defendants have not been disclosed. However, the seizure of substantial assets, including a significant amount of bitcoin, suggests a thorough investigation into their financial activities.

Given Andrew Tate’s presence on social media and his previous success as an athlete, the case has garnered significant attention from both the cryptocurrency and social media communities.

In response to the accusations and asset seizures, Andrew Tate’s spokesperson, Mateea Petrescu, has expressed the determination of the brothers to prove their innocence and restore their damaged reputation. Petrescu has stated that Tate’s legal team is prepared to collaborate extensively with the relevant authorities. They aim to present compelling evidence that will not only exonerate the brothers but also address any misinterpretations or false allegations that may have arisen.

This is not the first time that Andrew Tate has faced legal issues. He made headlines in December 2022 when he was arrested and again in February when authorities confiscated over $100,000 worth of Andrew’s holdings, which included approximately five bitcoins valued at around $110,000. His brother, Tristan, possessed 16 bitcoins worth about $465,000, a sum close to the recently seized assets.

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