Lawyers for Andrew and Tristan Tate claim crypto wealth was exaggerated

Tate brothers' lawyers say wealth claims were exaggerated

The legal team for Andrew and Tristan Tate has told prosecutors that the brothers exaggerated their wealth, including claims about their cryptocurrency holdings and luxury assets. The lawyers stated that the brothers' public image of being "uberwealthy" was largely a performance to promote their money-making courses.

In court filings, the lawyers revealed that luxury cars like an Aston Martin and Bugatti Veyron, often featured on the Tates' social media, were rented. The yachts they promoted were also part of paid partnerships. The filings argue that these claims were "grandiose" and not reflective of their actual financial situation.

Key details from the legal filings

• The Tates' lawyers claim their clients' wealth was exaggerated to promote online courses.
• Luxury cars and yachts featured on social media were rented or part of paid promotions.
• Andrew Tate may own 21 bitcoin, worth about $1.6 million, based on Romanian court filings.
• The brothers face 59 charges, including rape, trafficking, and child sex-abuse image offenses, which they deny.
• Prosecutors argue the Tates are a flight risk due to their claimed resources and social media influence.

What the lawyers argue about crypto holdings

The Tates' legal team stated that the brothers' claims of having "unrestricted access to traditional funds, cryptocurrency, and BTC" were not accurate. They described these claims as part of a role the brothers played to appear wealthy.

Romanian court documents suggest Andrew Tate may own 21 bitcoin, valued at approximately $1.6 million. However, the lawyers did not confirm this amount in their recent filings. Tate previously claimed to have made $85 million trading crypto, but this was widely doubted online.

Disputed claims about luxury assets

The lawyers revealed that the luxury cars often seen in the Tates' social media posts were rented, not owned. The brothers were also paid to promote the yachts they featured. These details were submitted as part of their bail application to show they are not a flight risk.

Prosecutors, however, argue that the Tates' claims of wealth and their ability to hide identities make them a potential flight risk. They also noted the brothers' history of intimidating complainants through their social media networks.

What is confirmed about the Tates' finances

• Legal filings state the Tates exaggerated their wealth, including crypto holdings and luxury assets.
• Luxury cars and yachts featured online were rented or part of paid promotions.
• Andrew Tate may own 21 bitcoin, worth about $1.6 million, according to Romanian court documents.
• The brothers were arrested on July 18 and are fighting extradition to the UK.

What remains unclear

• The exact amount of cryptocurrency the Tates own is not confirmed in the latest legal filings.
• It is unclear whether the 21 bitcoin mentioned in Romanian court documents is their only crypto holding.
• The outcome of their bail application and extradition case is still pending.

Why this matters for the case

The Tates' lawyers are using the exaggerated wealth claims to argue that the brothers are not a flight risk. If the court accepts that their wealth was inflated, it could impact the decision on whether to grant bail. Prosecutors, however, continue to argue that the Tates have the resources and connections to flee if released.

Sources

• Protos
• BBC