Taylor Thomson, a member of the prominent Thomson Reuters family, has reportedly incurred cryptocurrency losses exceeding $80 million following investment decisions influenced by advice from a psychic and a close associate.
According to a report published on August 25 by The Wall Street Journal, Thomson’s increased involvement in the digital currency market began after she and Ashley Richardson started seeking guidance from a psychic and other spiritual advisors.
Over time, Richardson assumed responsibility for managing Thomson’s cryptocurrency assets. It is believed that she was overseeing approximately $140 million distributed across various digital wallets on behalf of Thomson.
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During the cryptocurrency market downturn of 2022, a review conducted by Guidepost Solutions indicated that the investment portfolio suffered losses exceeding $80 million. The firm also alleged that Richardson executed a significant number of trades, worth hundreds of thousands of dollars, without obtaining the necessary authorization.
Richardson has countered these claims by asserting that she was acting under Thomson’s explicit instructions. She further stated that the high volume of transactions was essential to managing tokens with limited trading liquidity. Additionally, she emphasized the absence of a formal written agreement between herself and Thomson, and denied any personal enrichment from the transactions.
In 2023, Thomson initiated legal action against Richardson and the Persistence project, into whose blockchain token XPRT she had invested $40 million. In her legal complaint, Thomson contends that Richardson and Persistence misrepresented information to her and orchestrated a concealed referral payment arrangement.
Subsequently, Richardson has filed a lawsuit of her own. She alleges that Thomson has falsely accused her of fraudulent activity and damaged her professional reputation by disseminating these accusations.
In related news, a federal judge recently mandated that Eddy Alexandre and his company, EminiFX, repay $228.5 million to investors. To understand the details behind this ruling, you can find the complete story here.