© Reuters. QuadrigaCX Scandal: Withdrawals in 2018 Reportedly Paid with CEO’s Personal Funds
Back in 2018, the late CEO of QuadrigaCX Gerald Cotten allegedly used personal funds to honor withdrawals. At that time, the exchange was in dispute with the Canadian Imperial Bank of Commerce (CIBC), which led to the freezing of $21.6 million.
Based on a recent statement by Cotten’s widow, Jennifer Robertson, during that period, Cotten honored the exchange’s withdrawal requests through his personal bank accounts.
“While I had no direct knowledge of how Gerry operated the business, he told me that he had been putting his own money back into QCX to fund user withdrawals in 2018 wh…
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