A Bitcoin Investor’s Lawsuit Might Bankrupt a City
James Howells, a crypto investor, has been on a decade-long quest to retrieve a hard drive, mistakenly discarded in a 2013 office cleanup, that contains 8000 BTC.
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He's now considering legal action against the Newport City Council after their repeated refusals to let him excavate a landfill site.
Howells has given an ultimatum: grant access by September 18th or face a lawsuit of roughly $500 million, surpassing the city's yearly budget.
While Howells is prepared to fund the $11 million excavation, the city argues it would harm the environment and violate ecological standards.
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