Jennifer Robertson Quadriga Wikipedia

Things went from bad to worse on January 14, 2019 when Quadriga announced on its Facebook page that Gerry Cotton, the 30-year-old whiz kid who helmed Canada’s largest crypto exchange, had died unexpectedly during his honeymoon to India. However, those conspiracies turned into circumstantial evidence when users discovered that Cotten, and Quadriga’s co-founder, Michael Patryn had checkered pasts in Ponzi schemes, money laundering, identity theft and exit scams. Meanwhile, Ernst and Young confirmed it is talking to lawyers representing Cotten’s widow, Jennifer Robertson, regarding the sale of personal assets that were purchased with Quadriga funds.

  • The India Times reported that limited funds had been made available to build the Jennifer Robertson and Gerald Cotten House; the couple had yet to release funds for the orphanage’s operation.
  • When the person from the hotel had no further information, Dr. Mehra turned him down, telling him to go instead to the SMS Medical College, a state institution.
  • It begins with a few findings that do not fit neatly into the Royal Fuckup narrative.
  • Things went from bad to worse on January 14, 2019 when Quadriga announced on its Facebook page that Gerry Cotton, the 30-year-old whiz kid who helmed Canada’s largest crypto exchange, had died unexpectedly during his honeymoon to India.
  • However, those conspiracies turned into circumstantial evidence when users discovered that Cotten, and Quadriga’s co-founder, Michael Patryn had checkered pasts in Ponzi schemes, money laundering, identity theft and exit scams.
  • While it only costs about $50 a month to tie down a plane at Debert, Mr. Cotten was always behind on his invoices.

“We just need to know that it’s a natural death or not, and we took the copies of the passport and we got the records from the hospital, which said it was a natural death. After that, we don’t need any other documents,” Mr. Singh said. Mr. Singh is the station house officer for Jawahar Circle, the district in which the hospital is located.

She had accompanied him to a hospital in Jaipur the previous day and he was diagnosed with septic shock, perforation, peritonitis, and intestinal obstruction. On the 9th, he allegedly died after episodes of cardiac arrest. On 10 December, a death certificate was issued by the local municipality as well as a “no objection certificate” from the police to return the body to Nova Scotia. Throughout 2018, as Bitcoin prices crashed, customers of the exchange reported delays when attempting to withdraw dollars.

Jennifer Robertson (Quadriga)

“The monitor’s third report indicated six so-called cold wallets used to store digital assets offline have been found, but all of them are empty.” On November 13, 2019, approximately three weeks before his death, The Globe and Mail quoted Cotten’s reaction to a law-suit from the Canadian Imperial Bank of Commerce . In January 2019 CIBC had frozen several accounts with $26 million CAD on deposit, claiming it couldn’t be sure who the funds actually belonged to.

gerald cotten

After the public bid failed, he kept no internal records—an almost inconceivable state of affairs for a company with an annual trading volume of more than $1 billion. In Ernst & Young’s phrase—one imagines its battalion of stern accountants in various shades of apoplexy—“typical segregation of duties and basic internal controls did not appear to exist.” Most years Cotten neglected to file a personal tax return. Patryn was described as ostentatiously secretive—a trait not uncommon in cryptocurrency circles—and made vague allusions to a shadowy past and underworld connections. He was sturdy and muscular, with blackwork tattoos and a face that in repose seemed to glower. On Facebook he posed with a tiger, a lion, behind the wheel of a Lamborghini, straddling an ATV in a desert.

Where is Gerry ‘Gerry’ Cotten Now?

In the middle of this tumultuous year, Cotten and Robertson got married. Days before their honeymoon in India, Cotten made out a will, leaving everything to his new wife. By then, Quadriga had morphed into a Ponzi scheme, said Tourangeau, where new investor funds were being used to pay out old investors who made withdrawal requests.

gerald cotten

The cautionary tales of fortunes lost because of misplaced private keys have the quality, in Bitcoin mythology, of the homilies delivered at religious gatherings. After he died, the exchange tried, but could not, find “significant cryptocurrency reserves,” BBC reported. The problem was that Cotten, who died at what is abele age 30, “was the only person who had passwords to digital wallets containing C$180 million ($137m; £105m) in cryptocurrencies,” according to BBC. When Bitcoin started crashing before Cotten’s death and people tried to withdraw their money all at once, Cotten’s company was on track to lose millions of dollars.

CEO’s death

It begins with a few findings that do not fit neatly into the Royal Fuckup narrative. Cotten had mentioned having a safe bolted to the rafters in the attic of his home in which he had stored the passwords to his various cryptocurrency accounts. After learning of his death, one of his contractors immediately went to the house and searched for it.

gerald cotten

On an Instagram account that appears to have been operated by Ms. Robertson, she describes herself as a “travel addict and globetrotter,” noting she has visited 35 countries. The pictures, posted between January, 2016, and April, 2017, reveal a whirlwind travel schedule. There are shots from more than a dozen countries, including a market in Oman, pagodas in Myanmar and a beachfront resort in the Maldives, often with the hashtag #luxurytravel.

Quadriga co-founder Michael Patryn was identified by The Globe and Mail as Omar Dhanani, who was convicted on identity theft charges in the U.S. and served 18 months in Federal prison. Dhanani also had pleaded guilty to burglary and grand theft charges and had been deported to Canada. Bloomberg also identified Patryn as Dhanani, showing https://cryptolisting.org/ that he had officially changed his name from Omar Dhanani to Omar Patryn in British Columbia in March 2003 and changed it again to Michael Patryn in October 2008. According to court filings, Quadriga also used WB21 as a payment processor. Michael Gastauer, Chief Executive of WB21, has been named in a civil lawsuit by the U.S.

In 2010 he graduated with a bachelor’s degree in business administration from an honors program at York University’s Schulich School of Business in Toronto. His parents owned an antiques store; Cotten decided to go into crypto. Gerald Cotten was the founder of Quadriga CX, once Canada’s largest cryptocurrency exchange. Before arriving in Jaipur, Cotten and Robertson had already traveled to some of India’s biggest tourist destinations, including the Taj Mahal and Varanasi.

Online Rumors Claim It’s Possible That Cotten Faked His Own Death

‘Gerry came across friendly, positive, upbeat, he always laughed. I don’t know what Gerry would look like angry,’ Andrew Wagner told the Netflix documentary. Like Cotten, he was also an early disciple of the Bitcoin Co-Op. ‘This is not right, something is off,’ said Mousavi to Netflix. He is one of the $115,000 users that were bilked in the Quadriga scam. The rapid decline of Cotten’s vitals are consistent with what a patient with the disease might experience, though according to the Crohn’s & Colitis Foundation, a person is unlikely to die from it.

According to VanderKlippe’s reporting, they planned to stay in Jaipur for four days. Almost as soon as they arrived at the Oberoi Rajvilas, however, they left to seek medical care for Cotten. They wound up at the Fortis Escorts Hospital, a private hospital that offered superior medical service to most of India’s public hospitals. Dr. Abhishek Sharma, the general manager of the hospital, told VanderKlippe that Cotten “was admitted with symptoms of acute gastroenteritis.” He proceeded to vomit repeatedly and suffered diarrhea — not unusual symptoms for travelers in India.

The platform quickly earned a reputation as the cheapest, fastest and safest way to trade dollars into bitcoin and vice versa. It was the first crypto exchange to hold a license from FinTRAC, Canada’s anti-money-laundering authority. They installed a bitcoin ATM in its bare-bones Vancouver office , and accepted gold as payment that could be dropped off in person. Tong Zou knew something was terribly wrong when two months after he requested to withdraw money from his Quadriga accounts, the funds still hadn’t showed up in his checking account. The software engineer from San Francisco was not alone in this problem, hundreds of other customers were also facing the same dilemma.

That shifty behavior has sparked speculation that Cotten faked his demise, and is still alive. Ernst & Young found five Quadriga cold wallet addresses, but they were empty, containing no cryptocurrency since April 2018. Another “appears to have been used to receive Bitcoin from another cryptocurrency exchange account and subsequently transfer Bitcoin to the Quadriga hot wallet” on 3 December. Another three empty wallets were believed to possibly be owned by Quadriga. Fourteen trading accounts that were also examined were used to trade on other exchanges.

Far more likely is the narrative of Gerry the Royal Fuckup. In this version of the story, scams beget scams and incompetence snowballs into recklessness and squander. The public bid was a last-ditch effort to salvage a flailing Ponzi, exploiting positive press and public sympathy to bilk money from investors. We now know that Cotten began, no later than 2015, to steal his clients’ funds.

A sign affixed to its storefront, roughly nine kilometres west of the family’s home, directs visitors to its online auction house. And when The Globe visited the Cottens’ house on a snowy weekday morning, the driveway was unshovelled and no one answered the door. No one had seen the Cottens in about three weeks; some said they were on vacation, but no one seemed to know where. Neighbours described how, in recent years, Mr. Cotten’s dark-blue Lexus would occasionally appear in his parents’ driveway.