Billionaire Heiress Taylor Thomson Suing Friend Over $80M Loss in Psychic-Backed Crypto

TLDR

• Taylor Thomson lost $80 million in crypto after following a psychic’s advice.

• The heiress sued her former best friend for executing unauthorized trades.

• The XPRT token, in which Thomson invested $40M, lost 99% of its value.

• Richardson countersued for defamation, claiming Thomson falsely accused her.

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Taylor Thomson, a billionaire heiress from the family behind Thomson Reuters, lost over $80 million in digital assets following investment advice tied to a psychic. According to a report by the Wall Street Journal, Thomson was heavily involved in cryptocurrency investments, guided by her former best friend, Ashley Richardson. The two sought the advice of a celebrity psychic and other spiritual advisers before making significant bets in the volatile crypto market.

During the 2021 bull run, Richardson reportedly managed over $140 million in crypto assets for Thomson, with trades spread across multiple wallets. However, the crypto market downturn in mid-2022 led to substantial losses, including the collapse of certain investments. Guidepost Solutions, a consulting firm, estimated the loss at $80 million. The case has sparked a legal battle between Thomson and Richardson, involving accusations of unauthorized transactions and misrepresentation.

Role of Psychic Guidance and Unusual Trades

Thomson and Richardson’s crypto journey began when they consulted a psychic for investment advice. According to reports, they used advice from two psychics, including celebrity psychic Michelle Whitedove.

The pair had invested in multiple crypto assets, including the XPRT token, which Thomson later invested $40 million in. However, the token’s value crashed, falling by 99% from its peak, leaving Thomson with significant losses.

Richardson, who became deeply involved in managing Thomson’s crypto holdings, is now at the center of a legal dispute. While Richardson denied the accusations and claimed she acted under Thomson’s directions to maintain liquidity in thinly traded tokens, she has been accused of making over 450,000 trades without proper authorization. She also rejected claims of profiting from the arrangement, stating that she did not personally benefit from the trades.

Legal Battle and Allegations Against Richardson

The fallout from the crypto loss has escalated into a legal battle. In 2023, Thomson filed a lawsuit against Richardson and the Persistence blockchain project, where she invested $40 million in its native XPRT token. The token’s massive decline left her with minimal returns, prompting accusations of misrepresentation and a hidden “finder’s fee” for Richardson.

Thomson has demanded $25 million in damages, claiming that Richardson and Persistence misrepresented the investment, and secretly arranged compensation for Richardson. Despite settling the dispute with Persistence, Thomson’s lawsuit against Richardson remains ongoing. The matter has also triggered a countersuit from Richardson, who is claiming defamation after Thomson allegedly accused her of fraud.

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