Craig Wright’s Wife is in a $3 Million Legal battle with a Digital Asset Platform

Craig Wright’s Wife is in a $3 Million Legal battle with a Digital Asset Platform
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The Wright family is no stranger to legal battles. This time, however, a member of the family is the one serving the lawsuit. Earlier this week, it was reported that Ramona Ang, the wife of Craig Wright, filed a lawsuit, where she claimed to have lost about $3 million in Bitcoin (BTC) due to a management discrepancy by her asset trading platform.

Wright is the Chief Science Officer at blockchain research firm nChain who has become infamous across the crypto industry for various reasons, including but not limited to proclaiming that he is Bitcoin’s creator Satoshi Nakamoto). While Wright is facing a legal battle of his own over the theft of digital assets from his now-deceased former business partner, his name, along with most things associated with him, seems to be on almost everyone’s “black list.”

According to court documents filed back in April, Wright’s wife Ramona Ang claimed that her trading account on UFX- an online brokerage platform that is controlled by FinTech firm Reliantco- was abruptly closed, making it impossible for her to access her crypto holding on the platform.

The documents revealed that Ang had initially made Bitcoin futures investments on UFX between January and May 2017. However, she returned for a second investment round between July and August of that same year, investing a total of $200,000. Her account was reportedly closed on August 10, and in the documents, she alleged that her investment had matured to $700,000.

In addition to that, Ang claimed that when she tried to shut the account down at the end of August 217, her holdings had increased to $1.1 million. However, she was unable to withdraw her assets, as the account had already been shut down by Reliantco.

By her estimates, her position would have grown to a value of about $3 million as at the time of the filing. In the document, she accused the company of repeatedly stopping her from closing her account and withdrawing her funds. She claimed that the account’s closure was unlawful, and she was seeking compensation for the damages suffered as a result.

Reliantco’s defense was based on the fact that Ang had invested as a trader, even though her investment was classified as a “retail client.” The resolution of the case is yet to be known. However, if Ang is anything like her husband, then there’s a high probability that this isn’t the last that we’ll be hearing about the case.

About Jimmy Aki

Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.