Bitcoin Investor Threatens Legal Action Against NCC
A Welsh Bitcoin investor, James Howells, who lost $557 million worth of BTC in a flash drive, is planning to sue Newport City Council (NCC) in the UK. Howells has spent 10 years searching for the lost flash drive, and after repeated rejections from the council to excavate the area, he is now threatening legal action. The NCC has refused his requests for a landfill excavation, citing environmental concerns and prioritizing the well-being of residents. Howells claims to have raised enough funds for the excavation and has demanded permission from the council. In response to the rejections, he has submitted a letter demanding a concession and has threatened to sue the council for damages worth $557 million.
NCC Offered 10% of Recovered BTC
Howells has attempted to influence the NCC’s decision by promising to give them 10% of the recovered Bitcoin funds. He plans to use the funds to transform Newport into a cryptocurrency hub. Additionally, he has offered 50 Euros to all Newport residents and proposed the implementation of crypto terminals in local shops. Since 2013, Howells has been tirelessly trying to locate his 8,000 BTC, which has significantly increased in value. Frustrated by the council’s rejections, he stated that legal action was his last resort.
Hot Take: Bitcoin Investor Threatens Lawsuit Against Council Over Lost Fortune
James Howells, a Welsh Bitcoin investor, is taking legal action against Newport City Council in the UK after losing $557 million worth of BTC in a flash drive. Despite searching for a decade, Howells has been unable to find the lost drive and has accused the council of refusing his requests to excavate the area. The council, however, has rejected the requests, citing environmental concerns and prioritizing resident safety. Howells claims to have sufficient funds for the excavation and has threatened to sue the council for damages. He has also offered the council 10% of the recovered BTC to influence their decision. With Bitcoin’s value skyrocketing, Howells is determined to locate his potential fortune.
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