April 25, 2024

Widow of QuadrigaCX Exchange Founder Assigns $ 9 Million Assets to EY Canada

The widow of QuadrigaCX exchange founder Gerald Cotten will transfer assets worth $9 million to auditor Ernst & Young (EY) Canada to indemnify injured creditors.

“We agreed that the lion's share of our assets,received from QuadrigaCX, I will transfer EY Canada to compensate for the loss to affected users, ”said Jennifer Robertson.

A voluntary agreement signed by Robertson,is currently being approved by the court. EY Canada plans to sell the assets that will be received from the widow of the founder of the exchange and use these funds to settle accounts with creditors.

According to EY Canada, after the transfer specifiedRobertson will have $ 162,700 in personal assets, including cash and retirement savings, a 2015 jeep, some jewelry and other property.

The widow of the founder of QuadrigaCX claims that she did not know about the operating activities of the exchange, in particular about mixing user funds with the assets of the trading platform.

“I did not know that Jerry could use user funds for personal purposes or for trading,” she said.

QuadrigaCX ceased to exist in the beginningthis year, after Robertson and other company affiliates realized that they did not have access to cold wallets, which contain the bulk of cryptocurrency assets. However, the subsequent EY investigation called into question the fact that there were any assets at all at the disposal of the exchange at the time of Cotten’s death.