Canadian billionaire Taylor Thomson, heiress of media giant Thomson Reuters, lost more than $80 million after making cryptocurrency investments allegedly inspired by a psychic’s advice. The Wall Street Journal reported the story, citing court documents.
$140 Million Managed Without a Contract
According to media reports, Thomson’s cryptocurrency portfolio was managed with the involvement of her former friend Ashley Richardson. Both women consulted with a well-known psychic and other “spiritual advisors,” after which Thomson entrusted Richardson with handling her digital assets.
During the crypto boom of 2021, Ashley Richardson controlled more than $140 million worth of Thomson’s cryptocurrency. The funds were distributed across multiple wallets, and Richardson allegedly conducted all transactions without a written agreement, relying only on an oral arrangement. She claims she did not receive any income for managing her friend’s capital.
After the market crash in the summer of 2022, Thomson’s portfolio sharply depreciated. Analysts at Guidepost Solutions estimated losses at more than $80 million. The company claims Richardson carried out over 450,000 trades without official authorization and used excessively risky strategies.
Mutual Accusations and Court Case
Richardson stated that all her actions were agreed upon with Thomson and were aimed at preserving liquidity in low-traded tokens. However, in 2023 the dispute reached court. Thomson filed a lawsuit against Richardson and the Persistence (XPRT) project, accusing them of collusion and providing false information.
According to WSJ, Thomson invested $40 million in the XPRT token, which fell from its peak of $16.59 in May 2021 to $0.037. The decline amounted to more than 99%. Thomson is seeking $25 million in compensation, claiming Richardson secretly received a “finder’s fee” for bringing in an investor.
Richardson, in turn, filed a countersuit for $10 million for defamation. She claims that Thomson accused her of fraud in conversations with third parties.
According to WSJ, Persistence reached a settlement with Thomson, but the legal battle between the former friends is still ongoing.
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