Lawyers for Tate brothers say crypto wealth is exaggerated

Lawyers for Andrew and Tristan Tate claim the pair exaggerated their “uberwealthy” status, and have assured prosecutors that their stories of “unrestricted access to traditional funds, cryptocurrency, and $BTC,” and supposed ownership of luxury assets, were nothing more than “grandiose claims.”

The brothers’ apparently inflated fortunes were revealed in legal filings submitted by their legal team as they attempt to bail them and prove they aren’t a flight risk.

Specifically, the filings state that an Aston Martin and a Bugatti Veyron that appear on the Tates’ socials were rented, while they were paid to promote the yachts they feature.

The pair allegedly lied about their wealth to help promote the numerous money-making courses that provided the bulk of their income.

“In short, they are playing a role,” the lawyers claim.

Lawyers argue US gov has to prove their riches

Tate’s lawyers say the US government can’t prove their grandiose claims of wealth are legitimate, and so the two aren’t actually a flight risk.

The brothers were arrested on July 18 and are currently fighting extradition to the UK.

TheBBC reports that they face 59 potential charges, including rape, trafficking, assault, and charges relating to child sex-abuse images and extreme pornography. The Tates deny the charges.

Prosecutors think Tate will flee if he’s bailed

Prosecutors argue the brothers represent a potential flight risk due to their claims of being able to evade authorities by hiding their identities.

They claim the pair “have significant redia networks,” and that they often intimidate vulnerable complainants

Is Tate actually rich in crypto?

Court filings in Romania suggest that Andrew Tate might own 21 $BTC, which would be worth $1.6 million, after he successfully applied in 2024 for its seizure to be reassessed.

He previously claimed he made $85 million trading crypto, but this was heavily doubted online.

The self-proclaimed misogynist also promoted various memecoins that have plummeted in value, most likely receiving thousands in commissions for doing so.

There’s also been a long-running record of Tate racking up losses of almost $890,000 in losses on perpetual futures exchange Hyperliquid.

He also launched his own DADDY memecoin in 2024. It pumped 8% in the last hour, but is still 94% down from its all-time high two years ago.

Source: cryptonews.net