Monday, June 24, 2019

QuadrigaCX CEO blew multi-millions

They also traveled frequently to resorts, using private jets. The couple had no other income so users of the cryptocurrency exchange financed the couple’s life of luxury.Gerald Cotten was the CEO of Canadian crypto exchange QuadrigaCX. His reported death and subsequent discovery of $190m of missing funds has become a hot topic and massive lawsuit. Cotten transferred user funds to his personal accounts to use them as security for margin trading. He racked massive losses.

The receiver revealed that Cotten and his wife had received “significant transfers of fiat” from Quadriga. Cotten and his wife acquired – personally or through companies – a huge amount of assets, including real and personal property.
Cotten created multiple accounts on QuadrigaCX with aliases to make fake deposits and trades that resulted in inflated revenue figures and artificial user trades. To date, a total of $31.5m has been recovered.

See ----->QuadrigaCX - Gerald Cotten