QuadrigaCX Founder's Widow to Repay Exchange’s Users With $9 Million
Jennifer Robertson, the widow of the late QuadrigaCX founder Gerald Cotten, is set to hand over $9 million worth of her assets to the users of the now-defunct cryptocurrency exchange.
According to a personal statement Robertson posted, first sent to CoinDesk, she is set to transfer the majority of her estate’s assets to Ernst & Young Canada, the firm that acted as a trustee in QuadrigaCX’s case.
Robertson’s statement reads:
I have now entered into a voluntary settlement agreement where the vast majority of my assets and all of the Estate’s assets are being returned to QCX to benefit the Affected Users.
QuadrigaCX went down after its founder Gerald Cotten passed away and his widow and other affiliates realized they had no way to access the cryptocurrency stored in its cold wallets. While around $145 million worth of client funds ended up being lost because of this, the $9 million from Robertson represent most of her assets.
A report by EY Canada reveals she will be handing over everything but around $162,700 in personal assets. These include cash, retirement savings, and outstanding shares of QuadrigaCX, among other assets. EY is set to liquidate the assets handed over for QuadrigaCX’s users who were affected.
After Cotten passed away it was found he mixed personal funds with those of the cryptocurrency exchange, something Robertson claims she wasn’t aware of. Per her words, she had no direct knowledge of how the exchange operated.
Featured image via Pixabay.
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