Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash & Gold via Default Judgment

British Columbia Seizes $1M in Cash and Gold Linked to QuadrigaCX Co-Founder

British Columbia seized over $1M in cash, gold and luxury items tied to QuadrigaCX co-founder Michael Patryn.

Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash & Gold via Default Judgment

The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.

B.C. wins forfeiture of $1 million in cash, gold linked to failed cryptocurrency company QuadrigaCX

In Ponzi schemes, named after 1920s fraudster Charles Ponzi, later investors are paid off with earlier investors’ money and not from the profits of any real business. Many investors lose money when the schemes collapse.

QuadrigaCX Fallout: Co-Founder’s $1M Assets Seized by Province

TL;DR The province of British Columbia obtained an order to seize the assets of Michael Patryn, a QuadrigaCX co-founder tied to the exchange’s collapse. The court authorized the confiscation of more than $1M in cash, gold and watches found in a safety deposit box after an investigation linked those assets to misappropriated funds. Patryn withdrew his defense, and the province will now liquidate the assets for QuadrigaCX’s recovery fund. British…

British Columbia seizes $1M in assets tied to QuadrigaCX co-founder

Former QuadrigaCX co-founder Michael Patryn loses $1M in seized gold, cash, and luxury goods after British Columbia invokes unexplained wealth order powers. British Columbia authorities have seized cash, gold and luxury items valued at approximately $1 million tied to QuadrigaCX…

BC Secures $1M Forfeiture Linked to QuadrigaCX Co-Founder in Landmark Wealth Order Case

British Columbia has officially seized nearly $1 million in cash, gold, and luxury items connected to QuadrigaCX co-founder Michael Patryn, marking one of the most significant tests of the Provinces unexplained wealth order (UWO) framework to date. According to a report from the Vancouver Sun, the Supreme Court of British Columbia granted the civil forfeiture after Patryn chose not to contest the action, allowing authorities to take ownership of…