Taylor Thomson listened to a crypto tip given to him by a psychic, and as a result, he suffered huge losses and is still embroiled in legal cases in the crypto space.
A total of more than eighty million dollars was lost by Taylor Thomson, who is the heiress to the riches of Thomson Reuters. The losses were as a result of advice given by a celebrity psychic, and Ashley Richardson, who was her former close friend, handled the losses.
During the course of the bull market for cryptocurrencies in 2021, Thomson began making enormous investments, and Richardson was responsible for managing approximately 140 million dollars’ worth of cash over a variety of wallets.
The crypto market crash in the middle of 2022 destroyed the portfolio. The consulting firm, Guidepost Solutions, pegs Thomson’s losses at over 80 million dollars as a result of high-risk trades that were made without official consent.
Richardson says there was nothing wrong and that everything was done as per the instructions of Thomson, and that he did not sign a formal agreement with Thomson.
Psychic Token Tip Sparks Multi-Million Dollar Crypto Shocking Psychic
A prominent psychic and astrologer was consulted by Thomson and Richardson before they made their investment, which is when the tale began. The psychic led them to the blockchain project Persistence (XPRT).
Thomson expended more than 40 million dollars in XPRT, which lost almost exactly 99 percent of its value since its 2021 high of $16.59, losing most of the investment in the process.
Richardson used to spend 20 hours a day working with the crypto portfolio and claimed that the risky trading method helped her to deal with the liquidity of the tokens traded at thin markets. However, Thomson disagrees with approving a lot of trades.
Forensic investigation documented more than 450,000 questionable and risky transactions that cast doubt on portfolio management and how non-professional guidance affected key financial choices.
Rancorous Courtroom Battle Ensues Over Millions of Dollars in Allegations
In 2023, Thomson sued Richardson and the Persistence blockchain project in a $25 million lawsuit, accusing them of fraud and unpaid finder fees. Thomson had agreed to settle with Persistence, but the case against Richardson proceeded.
Richardson countersued Thomson, seeking 10 million dollars, saying that he was defamed and that he had not made any personal profit out of the trades.
This constant legal dispute is a warning about informal investment management and markets without regulation, particularly where decisions are made based on spiritual or psychic advice.
The case of Thomson is a warning to investors not to mix personal associations, unsubstantiated advice, and speculative crypto investment with no formal agreements and safeguards.
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