Altcoin News: QuadrigaCX Founder’s Widow Will Transfer $9 Million to Pay Affected Users

October 1, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Jennifer Robertson, widow of Gerald Cotten, founder of the QuadrigaCX cryptocurrency exchange, will transfer about $9 million to EY Canada’s accountant, who is responsible for managing the company after its bankruptcy.

“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. These assets originally came from QCX at the direction of Gerry,” she said.

The decision is pending approval in court.

According to EY Canada, after the transfer of the indicated amount, Robertson will have $162,700 in personal assets, including cash, retirement savings and other property. The auditor volunteered to liquidate the assets awaiting the transfer in order to use them for settlements with QuadrigaCX creditors, including users who lost money due to its closure.

Robertson noted that she does not have information about the operating activities of QuadrigaCX and the mixing of user funds with the assets of the Cotten exchange:

“Specifically, I was not aware of nor participated in Gerry’s trading activities, nor his appropriation of the Affected User’s funds,” she said through a lawyer to Coindesk.

Earlier, EY estimated QuadrigaCX’s owed to users $190 million, of which at the time of the publication of the June report, the company had approximately $24.5 million.

Author: Marko Vidrih