- Gerald Cotton, former CEO of QuadrigaCX, who was reported dead late 2018, is said to have used client funds to conduct his own trades on other exchanges.
- A report conducted by EY also detailed that the exchange’s financial report procedures were next to non-existent.
Auditor EY recently conducted a report, which shows that the QuadrigaCX CEO has transferred client funds to his own accounts on other exchanges.
Mr Gerald Cotten, who has died mysteriously in India late 2018, is alleged to have also then traded on his own account with those cryptocurrencies.
The report EY’s describes QuadrigaCX as an organization with almost no operational controls and almost non-existent financial reporting procedures.
“Quadriga’s operating infrastructure appears to have been significantly flawed from a financial reporting and operational control perspective,” according to the report.
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