Canada Sees New $5 Million Crypto Court Case Of Employee Vs Boss Bitcoin Theft Lawsuit
A recent report revealed that Senior Executive, Jason Arnold stole over USD$5 million in cryptocurrencies from the firm he was part of, namely, Vancouver-based Shair.Com Global Digital Services. Upon realizing that the funds were stolen, when Arnold was asked where they were, he claimed to have lost the holdings because the “company-issued laptop died”, as per CCN.
The marketing firm has since filed a lawsuit against Arnold, where the Supreme Court of British Columbia ordered the latter to hand over the laptop despite its proclaimed condition. The firm noted that it involved itself within the crypto sphere under Arnold’s direction because he told everyone he had the necessary knowledge to be in charge.
When It All Started
According to the claims made, Arnold approached his employer regarding cryptocurrencies in 2014 by highlighting the fact that he was skilled enough to invest in cryptocurrencies. Furthermore, he shared that he’d taken the extra step to create the necessary wallets on the firm’s Citrix Server. During the same year, Arnold was given USD$14,000 to buy Bitcoin, and as per today’s value, it would be a little over USD$172,000. Given that the USD$172,000 was converted into Whitecoin [XWC], Arnold would now owe the firm its rightful USD$5 million.
Arnold not only collected funds on behalf of his employer but made an investment on behalf of the marketing firm. The problem here is that Shair.Com Global Digital Services was neither advised of the investment made nor found any recording of it.
The firm requested that Arnold’s total assets worth well over USD$2.3 million (i.e. boats, vehicles, lands and homes) be released. This mainly comes from the fact that they were unable to find Arnold’s declared, “digital backup of the bitcoin wallet” on the Citrix server. All this being said, Justice Skolrood turned it down.