Ottawa Court Freezes $20M Wroth of Bitcoin Donated to Truckers

Plaintiffs want to redistribute up to $20 million donated to the Freedom Convoy to Ottawa residents.

Residents of Ottawa, Canada, have filed a lawsuit against the Freedom Convoy 2022 protesters, seeking up to $20 million in donations from around the world to be redistributed to city residents, according to The Globe and Mail.

Following that, an Ontario Superior Court judge in Ottawa ordered the freezing of the protesters’ funds, both fiat and cryptocurrency, by naming regulated financial institutions and individuals allegedly in charge of bitcoin custody for the convoy.

The freezing order, also known as a Mareva injunction, informs convoy protest leaders and institutions involved in fundraising that they are now prohibited from “selling, removing, dissipating, alienating, or transferring” any assets raised in donation campaigns, including bitcoin.

The order names protest leaders and assigns Bitcoin addresses to each of them, stating that they are not permitted to move such funds. The order goes on to say that any subsequent Bitcoin addresses that receive funds from the listed addresses will be targeted as well, and that chain analysis may be used.

“We have not been served with the order or related court documents,” a lawyer for the convoy protesters told The Globe and Mail, adding that he learned of the court order through media reports.

According to the report, a Mareva injunction allows a plaintiff’s lawyer to appear alone before a Canadian judge to request that funds be blocked. It is seldom used.

According to the report, this Mareva injunction targeting entities known to hold assets for the convoy is distinct from the federal government’s efforts to seize the same funds.

Defendants who disobey the order “may be held in contempt of court and may be imprisoned, fined, or have their assets seized,” according to the order. It also gives defendants 24 hours to file an application for an order granting them sufficient funds for ordinary living expenses as well as legal advice and representation.

“Any other person who is aware of this order and does anything that assists or permits the Defendant to breach the terms of this Order may also be held in contempt of court and fined or imprisoned,” the order states.

The order also allows the defendants to sell, transfer, or dispose of any assets raised for the protestors as long as a minimum of $20 million remains frozen.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Leave a Comment

Your email address will not be published. Required fields are marked *


Recent Posts

Follow Us