$80M Crypto scam: Thomson Reuters Heiress sues ex-friend over Psychic scheme

The crypto psychic loss saga continues to unfold as billionaire heiress Taylor Thomson, part of the Thomson Reuters dynasty sues her former best friend over disastrous digital asset investments. Thomson reportedly lost over $80 million in crypto after acting on investment guidance tied to a psychic.

According to a Wall Street Journal report, the crypto psychic loss began when Thomson and her then best friend, Ashley Richardson, sought advice from a celebrity psychic and other spiritual advisers.

Acting on this guidance, Thomson entrusted Richardson with managing her crypto portfolio which at its peak during the 2021 bull run exceeded $140 million across multiple wallets. The psychic influenced crypto loss surfaced during the mid 2022 market downturn when consulting firm, Guidepost Solutions estimated the portfolio’s decline at more than $80 million.

RICHARDSON’S STANDPOINT

Thomson alleges that Richardson executed more than 450,000 trades without proper authorization thereby exposing her to risky strategies and deepening the crypto psychic loss. However, Richardson has challenged any wrongdoing insisting that she only followed the directives of Thomson’s and that the trades were executed to support liquidity within the low volume tokens.

She maintains there was no formal contract only an oral agreement and insists she never profited from the arrangement attributing the crypto psychic loss to market conditions and Thomson’s own decisions.

LAW SUIT AND XPRT

The crypto psychic loss has now escalated into a high stakes legal battle. In 2023, Thomson filed suit against Richardson and Persistence (XPRT), a proof of stake blockchain project. The crypto psychic loss was compounded by Thomson’s $40 million investment in Persistence’s XPRT token which has plummeted 99% in value since its 2021 high.

COMMISSION

The Thomson’s lawsuit seeks $25 million with the claims that Richardson and Persistence covertly set up a “commission” for Richardson and misrepresented the investment which then added to the crypto losses tied to psychic advice. A Thomson spokesperson accused Richardson of fabricating stories to extract more money while Richardson countersued for $10 million alleging defamation after Thomson accused her of fraud.

Thomson and Persistence have been reported to have settled the crypto psychic loss though it still remains unresolved as the case against Richardson continues. The story stands as a cautionary tale about the risks of mixing spiritual advice with high stakes investing and the devastating impact a crypto psychic loss can have even on the world’s wealthiest families.