Billionary heir Taylor Thomson has been reported to have lost more than $ 80 million in digital assets after following the investment advice linked to a psychic.
According to a Wall Street Journal (WSJ) report on Monday, Thomson, who was part of the family behind the media and financial giant Thomson Reuters, Invested MILLION -million in crypto assets with the help of his former friend Ashley Richardson.
The move came after both women reported to consult a popular psychological and other spiritual advisors. Richardson became deeply involved in the Thomson portfolio. During the 2021 Bull Run, Richardson reportedly managed more than $ 140 million in crypto for Thomson in many purses.
However, the collapse of the crypto in mid -2022 put a massive tooth in the portfolio, with guidepost consulting solutions that estimated Thomson’s losses that exceed $ 80 million. The company has accused Richardson with more than 450,000 trade without valid permission, exposing Thomson to dangerous techniques.
Psychic advice on crypto trading led to millions of dollars suits
Richardson denied the allegations, saying he acted under Thomson’s instructions. He said trading is necessary to manage liquidity in thin exchanged tokens.
Richardson added that there is no formal contract between him and Thomson and that he only has an oral agreement on the name of Thomson. He admitted that he had never benefited from the arrangement.
“Everything I did was based on his instructions, as part of his efforts to reduce losses,” Richardson told WSJ.
The dispute has since developed in a legal battle. In 2023, Thomson accused Richardson and Persistennce (XPR), a proof-of-stake blockchain launched in 2021.
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Thomson invested $ 40 million in XPR token
Thomson reportedly invested $ 40 million in the native XPR Persistence token, which has fallen in value since 2021.
On May 15, 2021, the XPR token reached An entire time of $ 16.59, according to coingecko. At the time of writing, the token traded at $ 0.037, down by 99% since its record was high.
Thomson accused Richardson and persevered for $ 25 million, saying they secretly organized a “locator fee” for Richardson. He also accused the duo of the wrong expression.
“Ms. Richardson took her bogus story to the media in an attempt to pick up more money from Ms. Thomson,” said a Thomson spokesman.
Richardson counted $ 10 million, stating a defamation after Thomson told the associates that he had committed fraud.
The report added that Thomson and Patience had reached a negotiation, but the case against Richardson continued.
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