QuadrigaCX Founder’s Widow to Hand Over $9 Million in Assets

The widow of QuadrigaCX founder Gerald Cotten, Jennifer Robertson, will be handing over $9 million in assets to Ernst & Young (EY) Canada, the court-appointed monitor for the now-defunct crypto exchange.

Yesterday, Robertson announced in a statement, posted by CoinDesk, that she will be transferring the majority of the estate’s assets, which have been valued at around $9 million, to the “Big Four” audit firm, which has been acting as the bankruptcy trustee of QuadrigaCX.

A new report from EY has also stated that Robertson will only keep around $162,700 in personal assets, which include some cash, her retirement savings, a car, some jewelry, and some outstanding shares in Quadriga.

Robertson said in her statement:

“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.”

The new EY report also states that Robertson suggested the settlement offer after EY published its fifth report in June, which revealed that Cotten was transferring user funds off the exchange and using them as a security for his own margin trading on other platforms.

In her own statement, Robertson said that she was unaware that her husband commingled client and corporate funds, and that she was under the impression that the assets were all purchased with his legitimate profits.

She added:

“I was upset and disappointed with Gerry’s activities as uncovered by the investigation, when I first learned of them, and continue to be as we conclude this settlement.”