Wednesday, June 21, 2023

QuadrigaCX - Gerald Cotten - BC forfeiture wants stolen loot

Gerald Cotten, a co-founder of QuadrigaCX, died mysteriously in India in 2018. Co-founder Michael Patryn benefited from using QuadrigaCX client money through unauthorized trades and falsifying documents says a lawsuit filed by the province. They want to keep more than $600k in cash, gold bars, watches and jewellery from a safety deposit box and a CIBC bank account in Vancouver. The safety deposit box contained $250,200 in cash and 45 gold bars. It also contained four watches, including two Rolexes, jewellery, and a Ruger .45 and two loaded magazines. The box also contained a birth certificate, name change certificate, credit cards and cheques in Patryn’s name. The QuadrigaCX fraud was over $250m.
Michael Patryn, former name, Omar Dhanani.

QuadrigaCX was one of Canada’s biggest cryptocurrency exchanges.
QuadrigaCX’s court-appointed auditor revealed the addresses for the cryptocurrency exchange’s offline Bitcoin wallets. The cold storage wallets are empty – aside from $400k worth in Bitcoin. The news comes after the exchange said that it owed customers $134m worth of cryptocurrency.

Founder Gerald Cotten died as a result of complications of Crohn’s disease while travelling to India with his wife on December 9 2018.
There are calls to probe Cotten’s sudden and curious death. A death certificate issued by India was quickly dismissed as “worthless” by QuadrigaCX customers who demanded to see Canadian documents. The Indian certificate had Cotten’s name spelled incorrectly, adding fuel to conspiracy theories.