QuadrigaCX CEO Widow Sells Estate Assets, Reportedly Places Others in Trust
Jennifer Robertson, the widow of the late QuadrigaCX exchange CEO, appears to be liquidating and shuffling some estate assets.
When QuadrigaCX founder and CEO Gerald Cotten passed away suddenly in December of 2018 in India, he was allegedly the only person with the knowledge of the exchange’s cold storage keys. In his will, Cotten names Robertson executrix of his estate, as well as endowing her as its primary beneficiary. The exchange waited roughly a month from Cotten’s reported time of death to making his passing public, enough time for his widow to go through probate and transfer the estate’s assets to her name.
Cotten’s will itemizes a host of high-end assets that are now under Robertson’s control. The CEO left his wife his Jeanneau 51 sailboat; an airplane, a Lexus and a Mini Cooper (among other unnamed motor vehicles); and properties at 1021 Lamont Lane, Kelowna, British Columbia, 71 Kinross Court in Nova Scotia, 511 and 512 Ringling Court in Nova Scotia and 34 Little Island and Seaview Drive in Nova Scotia to his widow. He also left $100,000 for the continued care of his two chihuahuas, Gully and Nitro.
According to Canadian news outlet the Chronicle Herald, Robertson has taken out a second mortgage on each of these properties and placed at least two in a trust fund called the Seaglass Trust, a strategic legal move that lawyers told the outlet could add a layer of insulation between the assets and creditors in the ongoing QuadrigaCX litigation. Bitcoin Magazine could not independently validate that the trust exists.
The Chronicle Herald also reports that Robertson has sold the Kinross property for $1.1 million CAD. A source close to the matter, who asked to remain anonymous, told Bitcoin Magazine that they spoke with a real estate agent who claims to have represented Robertson in the house’s sale.
Cotten’s sailboat was also reportedly listed for sale for nearly $500,000 CAD, though the post has since been taken down (archived link here).
Another dozen properties in Halifax valued at roughly $6 million CAD are reportedly under the management of Robertson’s real estate company, Robertson Nova Property Management Inc., according to the Chronicle Herald. Robertson is listed as the company’s director, president/secretary and recognized agent, according to Nova Scotia public records, with the couple’s former Kinross residence listed as its office. In his will, Cotten dictated that his shares in the company are to be jointly shared between Robertson’s mother Carol Terry and her spouse Thomas Beazley.
As reported by Bitcoin Magazine, QuadrigaCX customers report receiving funds from Robertson Nova Property Management Inc. (showing up as RNC Inc., a.k.a., Robertson Nova Property Management Inc., on their bank statements). The deposit confirmation emails for these payments include reply-to lines with one of two emails believed to belong to Jennifer Robertson. If Robertson was involved with the company’s operations, that would contradict her sworn affidavit that she was not implicated in its dealings during Cotten’s life.