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Bitcoin Magazine
2019-02-15 19:06:19

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 ongoin...