James Howells, a Welsh Bitcoin investor and the man who inadvertently lost $557 million worth of BTC in a flash drive is seeking to file a lawsuit against Newport City Council (NCC) in the United Kingdom for refusing his requests to excavate the area he presumed he misplaced the hard drive.
Howells Threatens Legal Action Against NCC
After 10 years of searching for the elusive flash drive carrying a fortune of 8,000 BTC, Howells has taken an aggressive approach to his hunt and threatened the NCC with proper legal action that may see the council firmly bankrupt if the court rules in favor of Howells.
The NCC is a single-tier unitary authority that oversees the administration of all areas in Newport, one of the principal areas in Wales. Howells has been in contact with the council over the years, requesting permission to undergo a landfill excavation in the area that supposedly harbors the flash drive.
Howells claims that he has raised sufficient funds to propel the excavation work and only needed the council to give the go-ahead. However, the NCC has been adamant about its rejection despite Howells’ funding claims.
The council has consistently declined Howells’ requests for a landfill excavation, with reasons of environmental concerns and prioritizing working officers’ time who ensure the safety and well-being of Newport residents.
“In the current environment, we cannot justify wasting officers’ valuable time providing services to the residents of Newport,” a council spokesperson stated.
In response to the multiple rejections, Howells has stated that he would sue the council for damages worth $557 million. He has submitted a letter to the council, demanding a concession to perform a landfill excavation on Monday, September 18.
Following a failure to adhere to the ultimatum, Howells has requested a judicial review to evaluate the legitimacy of the council’s judgment to reject his Bitcoin recovery efforts.
Bitcoin price struggles below $26,000 | Source: BTCUSD on Tradingview.com
NCC Can Keep 10% Of Recovered BTC
In an attempt to influence the decision of the NCC regarding the landfill excavation work, Howells has promised to deliver 10% of the total Bitcoin funds recovered. He has stated that he will use the funds to transform Newport into a “crypto-mecha.”
The Welsh crypto investor also offered to provide 50 Euros to all Newport residents and facilitate the implementation of crypto terminals in local shops.
Howells has been vigorously trying to recover his 8,000 BTC since 2013. With Bitcoin’s price over 1,000 times the value it was in 2013, the Welsh investor is desperate to locate the flash drive containing his potential fortune.
He has expressed his frustration and determination with the NCC’s rejections, stating “I’ve tried everything possible for 10 years; they didn’t want to play ball, so now we have to take the legal route.”
Featured image from Medium, chart from Tradingview.com
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Author: Scott Matherson