According to ChainCatcher, billionaire heir Taylor Thomson lost over $80 million in digital assets due to following investment advice related to a psychic, as reported by Cointelegraph.
Thomson is a member of the family behind media and financial giant Thomson Reuters. With the help of her former close friend Ashley Richardson, she invested millions of dollars in crypto assets.
Previously, both sought advice from a psychic and later Richardson became deeply involved in managing Thomson's crypto asset portfolio. During the bull market in 2021, Richardson reportedly managed over $140 million in crypto assets for Thomson across multiple wallets.
However, the mid-2022 crypto market downturn severely impacted the portfolio, and consulting firm Guidepost Solutions estimates Thomson's losses exceeded $80 million.
The company accuses Richardson of executing over 450,000 trades without proper authorization, exposing Thomson to high-risk strategies.
Richardson denies the allegations, claiming he acted under Thomson's instructions and that there was no formal contract between them.
In 2023, Thomson sued Richardson and Persistence. She has since settled with Persistence, while the lawsuit against Richardson is still ongoing.