Widow of Deceased QuadrigaCX CEO Publishes Updated Statement

Share Article

Jennifer Robertson, the widow of QuadrigaCX CEO Gerald Cotten, has released a new statement as of March 13, 2019. Within the letter, she attempts to clarify her position on the accusations of user funds being stolen from QuadrigaCX. Given that the death of Gerald Cotten transpired under mysterious circumstances, the issue has drawn a lot of public ire and controversy.

Sponsored



Sponsored

Law Firm Steps Down from Representing QuadrigaCX

Jennifer Robertson said that the appointed law firm, Stewart McKelvey, has decided to step down from representing QuadrigaCX in the Companies’ Creditors Arrangement Act (CCAA) process. The firm said that there could have been potential conflicts of interest had it continued to serve the exchange and customers during the CCAA process.

Robertson initiated the CCAA proceedings after the untimely demise of her husband and QuadrigaCX exchange CEO Gerald Cotten. She stated that her intention was to ensure the smooth functioning of the exchange and recovery of any lost assets. In the note, she mentioned that Cotten had kept the digital exchange afloat by injecting his personal wealth into the company. This practice apparently started back in 2018, when the Canadian Imperial Bank of Commerce froze the company’s funds, resulting in a lack of liquidity.

Sponsored



Sponsored

Furthermore, Robertson claims that she even used her personal capital for the exchange’s upkeep as well. She said that she made all of her decisions with the best interests of the exchange and users in mind. The appointment of Ernst and Young to recover the lost assets was also suggested and approved by her.

$190 Million Still Missing

Gerald Cotten launched QuadrigaCX on December 26, 2013. It went on to become the leader in the Canadian digital currency exchange space. On July 12, 2018, the exchange posted that it was experiencing issues due to hostile banking regulations by the local financial regulator.

Cotten and Robertson arrived in India for their honeymoon on Nov 30, 2018. However, a week later on Dec 9, 2018, Cotten died due to Chron’s disease. His death was kept hidden for more than a month until it was revealed publicly on Jan 14, 2019.

A will dated Nov 7, 2018, surfaced, in which Cotten named Robertson the legal heir of his possessions and the exchange. Robertson chaired a meeting to promote herself, Thoman Beazley, and Jack Martel as directors to the board.

The string of events led to conspiracy theories claiming that Cotten had faked his death to steal the $190 million. Furthermore, he was the only person with access to the private keys of the company’s cold wallets. However, further digging has found that some of those wallets are already empty with the rest holding digital assets worth only a few thousand dollars.

Do you think the lost QuadrigaCX assets will ever be recovered? Let us know your thoughts in the comments below?

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Rahul's cryptocurrency journey first began in 2014. With a postgraduate degree in finance, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has guided a number of startups to navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars.

Follow Author

Limited offer! Learn to mine and trade crypto today for free

Join

Limited offer! Learn to mine and trade crypto today for free

Join

Be our Supreme Scorer and qualify for a grand prize pool of 200,000 USDT!

Join