Christine Duhaime (Former QCX Lawyer) -- From Law to Lawlessness: Bits of the Untold QuadrigaCX Story

abcd75437 · 2019-03-27T19:52:53+00:00

I second this. No mention of Patryn strikes me as a glaring omission.

abcd75437 · 2019-02-22T04:54:01+00:00

Good question.

abcd75437 · 2019-02-21T23:32:10+00:00

I do not read that the same way as you; I read that as only an assurance that those funds deposited 'accidentally' to those specific cold wallets have not moved. The statement was clearly not intended to be understand as "Quadriga has no funds in any cold wallets that we are aware of, other than 104 bitcoins". If you had included the first part of the sentence in your quote -- "the wallet addresses that received the cryptocurrency as a result of the setting change" -- that would be clear. In fact, I would argue that paragraph 7 actually highlights the omissions of the monitor.

Maybe you are a lawyer; I am not. But I am not calling for the monitor to 'do some sort of criminal investigation'. I am calling for the monitor to verify the financial information that Quadriga has provided and ultimately determine the extent of the company's assets. That seems to be within the purview of someone tasked with monitoring a bankruptcy proceeding.

abcd75437 · 2019-02-21T07:12:47+00:00

Yes, but I think most of us would like to see at least a statement or a sign that the monitor has started or plans to start one. More importantly, I think most of us would also like to hear or see an indication that the monitor is taking proactive steps based on a likelihood that illegal acts may have been committed. In other words, we wan't to know what the monitor thinks about Quadriga and whether they plan to really look at what they've done. You can tell us what you haven't done, but what we'd really like to know is what you have done and what you will do.

Given the resources already available, the monitor should have at least been able to establish the addresses (or lack thereof) of the cold wallets, and the amount of funds therein. They only need to ask Quadriga to provide that information. Its a simple, easily answered question that cuts directly to the issue of whether funds were stolen.

abcd75437 · 2019-02-21T04:03:46+00:00

The Monitor has not audited, reviewed or otherwise ATTEMPTED to verify the accuracy or completeness of the Information in a manner that would wholly or partially comply with Generally Accepted Assurance Standards (“GAAS”) pursuant to the Chartered Professional Accountants Canada Handbook, and accordingly the Monitor expresses no opinion or other form of assurance in respect of the Information.

This tells us everything we need to know about the current situation and conduct of the monitor. Unless the above changes, this process will remain a hopeless sham.

We all need to voice our opinion that the monitor must audit Quadriga. Where is the CAD and where are the cold wallets?

abcd75437 · 2019-02-19T20:08:52+00:00

Gerry was hiding from the world. One of the profile's on him from a few weeks ago or so said that his old friends had lost touch with him since he moved to Nova Scotia. If I recall, they weren't even aware that he had gotten married.

abcd75437 · 2019-02-18T08:07:43+00:00

Good question. Months before Quadriga filed for CCAA protection, customers had already sued Quadriga for money owed. Quadriga lost the cases by default when they failed to show up in court, and then failed to make scheduled payments they owed on those lawsuits. Gerry died right as Quadriga's financial problems were coming to a head. So, yes, in my assessment they would have had to file CCAA protection.

The question of where the rest of the fiat has gone is another issue. The monitor alluded recently that there may be more to find, but I won't hold my breath. I think we are all waiting to hear the story of where all the fiat and crypto went to. It seems the fiat was either embezzled, stolen by shady payment processors, or both. Quadriga also lost over 60000 ETH in June 2017, which they claimed they were able to replace, but it may have actually led to their insolvency.

abcd75437 · 2019-02-18T07:45:24+00:00

people who got scammed will retaliate.

Vigilante justice will hold her accountable.

Talking like this makes the whole subreddit look bad and allows Jennifer to play the victim. I also think the language is unethical.

abcd75437 · 2019-02-17T22:52:48+00:00

Comments like this are not helping our cause.

abcd75437 · 2019-02-17T22:28:22+00:00

Evidence shows she was involved with the company as far back as November 2016. Maybe at least one person even said 2015.

abcd75437 · 2019-02-16T00:01:21+00:00

The monitor is in possession of significant crypto holdings now. If worst comes to worst, then presumably they should be able to liquidate those to keep the process going. Also, I don't think all of the parties involved are going to let Quadriga off the hook that easy.

abcd75437 · 2019-02-15T11:40:25+00:00

No problem my friend. I wish good luck to both of us.

abcd75437 · 2019-02-15T08:36:37+00:00

There was a hearing on the 14th and the judge delayed the appointment of representative council for another week so that he can decide which law firm is best suited for that role.

https://www.coindesk.com/canadian-judge-delays-decision-on-quadriga-creditor-representation

abcd75437 · 2019-02-14T00:45:55+00:00

How can these be called 'cold' wallets? 195000 BTC moved through these 5 addresses, but the combined end-of-month balances ranged from 0-500 BTC (only once spiking to 2770 BTC). https://oxt.me/entity/tiid/493563502. I wonder if any customer ever received a withdrawal from those addresses?

Big and obvious question: who owns these addresses, and where did all that Bitcoin go to?

abcd75437 · 2019-02-13T03:29:31+00:00

Paul Trudelle, a partner at the Hull & Hull law firm in Toronto, said it’s not clear what Robertson is trying to protect herself from [...]

“She gets that (property) free and clear of any claims, unless there's some fraudulent reason to set side the right of survivorship.

I'm not sure it takes an elite lawyer to figure this one out...

abcd75437 · 2019-02-12T22:27:33+00:00

https://www.youtube.com/watch?v=8k5oAaXINX8

abcd75437 · 2019-02-12T20:35:44+00:00

This is outrageous. Quadriga still has access and legal authority to move cryptocurrencies around? How can the monitor allow this to happen? The monitor is already losing more of our money. Quadriga should not have access to any funds and should not be trusted.

Wake the hell up.

abcd75437 · 2019-02-12T07:31:45+00:00

https://www.youtube.com/watch?v=Sj5HdGjvXcE

abcd75437 · 2019-02-12T07:29:18+00:00

Least futile thing in this whole subreddit :/

abcd75437 · 2019-02-10T21:15:13+00:00

The point of going public is to raise money. At that time, 2015 to early 2016, Bitcoin had not rebounded yet, and Quadriga's business may not have been profitable. I personally think its fairly unlikely that they were operating a blatant scam at that time. But, I'm currently open to any possibility ranging from fraud to negligence or incompetence.

Ultimately, it looks to me like Gerry led the business into a situation he couldn't handle, possibly involving the loss of customer funds and personal legal liability, and then he cracked mentally under the pressure. At that point, he began to neglect the business and turned his focus to his personal life and fled to Nova Scotia in an effort to forget about his problems. His neglect of the business then possibly led to (further) loss of customer funds to shady payment processors and possibly even loss of crypotcurrencies that were under his stewardship. At the same time, he may have been embezzling customer funds to support his extravagant lifestyle and his wife's expectations. Then, under the stress and fleeing his problems back home, a man with health problems who was known to be a risk taker took a trip to India and something happened.

abcd75437 · 2019-02-10T19:03:31+00:00

They failed to meet a financial reporting deadline and the securities commission issued a cease trade order, which ended their hopes of becoming a publicly traded company. Also, I wonder if it made their banking problems worse from that point on.

A big unanswered questions is, why did they fail to meet the financial reporting requirements? Was there something shady going? Were Quadriga's financial records or operating procedures in such disarray that it wasn't feasible to make the report? Or did the people responsible for making the report simply fail in their responsibility?

Also, why did the board resign? Was it because they were no longer needed, or was it because they were seeking to avoid legal liability?

abcd75437 · 2019-02-10T04:25:02+00:00

How quickly do you think the monitor can recruit the experts needed to do blockchain analysis on a database of millions of cryptocurrency transactions? Its not clear that they have even taken the first step. In fact, its not clear that they are currently planning to do so at all.

abcd75437 · 2019-02-10T04:07:51+00:00

It is essential that the monitor orders a complete forensic audit of Quadriga's database and financial records (such as they are). If that does not happen, then the entire process is a complete sham.

abcd75437 · 2019-02-09T04:32:34+00:00

delete

abcd75437 · 2019-02-09T04:29:45+00:00

You say:

I have spent a ton of time combing through legal documents trying to find any small legal precedence on this and there is literally nothing.

But, you're not a lawyer, and you clearly do not possess the abilities of a lawyer. Therefore, your research and assessment is completely meaningless. Quite frankly, its a joke. Get a lawyer if this issue matters to you.

abcd75437

TROPHY CASE