"It's because of you"... Heir to a chaebol loses ₩100 billion after believing a fortune teller

Heiress of Reuters Media Group,

Invests in cryptocurrency following psychic's advice

Legal dispute with '10-year best friend' business partner

Partner continues to make a living as an Uber driver

Taylor Thomson (66), heiress to the Canadian media giant Thomson Reuters Media Group, reportedly lost $80 million (around ₩111.2 billion) after investing a huge sum in cryptocurrency on the advice of a psychic.

On the 25th (local time), media outlets including The Wall Street Journal reported that a cryptocurrency investment started by Thomson and Ashley Richardson (47), her long-time best friend, ended in disaster and escalated into a legal battle.

Thomson and Richardson first met at a party in Malibu, California, in 2009, and had grown close for over 10 years. The two, who built a strong friendship through traveling and vacations together, started investing in cryptocurrency in 2021, but conflicts began to arise.

Richardson, after receiving advice from famous psychic Michelle Whitedove, recommended a token called 'Persistence (XPRT)' to Thomson. After double-checking with her usual advisor, astrologer Robert Sabella, Thomson invested over $40 million (around ₩55.892 billion). Afterwards, Thomson expanded her portfolio to at least 12 different cryptocurrencies.

Richardson claimed she managed Thomson's digital portfolio for up to 20 hours a day and executed trades, saying, "Every decision was based on Thomson's instructions to minimize losses. Many trades were approved by Thomson herself."

However, Thomson denied this. A forensic report from the consulting firm 'Guidepost Solutions', hired by Thomson, confirmed that over 450,000 trades were made using Thomson's funds over several months. In this process, it was also revealed that Richardson stored a hardware wallet in an insecure location.

As the cryptocurrency market crashed in 2022 and the value of Persistence plummeted, the relationship between the two irreversibly deteriorated. In 2023, Thomson filed a lawsuit for at least $25 million (around ₩34.9325 billion) in damages against Richardson and Persistence. While reaching a settlement with Persistence, the lawsuit against Richardson is ongoing.

Richardson, for her part, fully denies any wrongdoing, saying, "I never made trades without Thomson's consent." She has countersued Thomson for defamation and notably claimed that she received help from the generative AI 'ChatGPT' in preparing for the legal fight. Richardson is currently surviving as an Uber driver and is reportedly experiencing such economic hardship that she even applied for Food Stamps, the U.S. nutrition assistance program for low-income individuals.

Jang Ji-min, Hankyung.com contributing reporter newsinfo@hankyung.com