Cryptocurrency Losses Mount for Thomson Reuters Heir Following Psychic Advice

Taylor Thomson, heir to Thomson Reuters, lost over $80 million in cryptocurrency investments in 2022 after following the advice of a psychic medium and her former best friend Ashley Richardson. Richardson managed over $140 million in cryptocurrency assets for Taylor during the 2021 bull market but was accused of executing unauthorized trades. Richardson denied the allegations, stating that the trades were necessary for managing liquidity and that she did not profit from them. The dispute has escalated into a legal battle.

Taylor Thomson, heir to the Thomson Reuters media and financial giant, has reportedly lost over $80 million in cryptocurrency investments following advice from a psychic medium and her former best friend, Ashley Richardson. The incident, which unfolded during the 2021 crypto bull market, has led to a legal battle between the two women.

According to a Wall Street Journal report [1], Thomson invested millions in various crypto assets with Richardson's help. The two women reportedly consulted with celebrity psychic Michelle Whitedove and astrologer Robert Sabella for investment advice. Richardson managed over $140 million in crypto assets for Thomson across multiple wallets during the 2021 bull run.

However, the crypto market downturn in mid-2022 significantly impacted Thomson's portfolio. Consulting firm Guidepost Solutions estimated Thomson’s losses to exceed $80 million. The firm alleged that Richardson executed over 450,000 trades without proper authorization, exposing Thomson to risky strategies [1].

Richardson denied the allegations, stating that the trades were necessary for managing liquidity in thinly traded tokens. She claimed that she acted under Thomson’s instructions and that there was no formal contract between them. Richardson also maintained that she never profited from the arrangement [1].

The dispute has since evolved into a legal battle. In 2023, Thomson sued Richardson and Persistence (XPRT), a proof-of-stake blockchain launched in 2021, for $25 million, alleging that they secretly arranged a "finder's fee" for Richardson and misrepresented the investment [1]. Richardson countersued for $10 million, alleging defamation after Thomson told associates she committed fraud [1].

Thomson reportedly invested $40 million in the XPRT token, which has collapsed in value since 2021. On May 15, 2021, the XPRT token reached an all-time high of $16.59, but at the time of writing, it trades at $0.037, down 99% from its peak [1].

Thomson and Persistence have reached a settlement, but the case against Richardson continues. Richardson, who is now an Uber driver and struggling to make ends meet, is fighting her former friend in court [2].

References:
[1] https://cointelegraph.com/news/billionaire-heiress-80m-loss-psychic-crypto-wsj?utm_campaign=rss_partner_inbound&utm_medium=rss&utm_source=rss_feed
[2] https://www.newsbreak.com/new-york-post-509648/4194494023500-how-the-scion-of-one-of-canada-s-richest-families-dumped-and-destroyed-her-best-friend-after-pumping-80m-into-doomed-crypto-deal-over-psychic-s-advice-report