A British Colombia based market firm, filed a lawsuit accusing Jason Arnold, the former chief operating officer, of stealing more than US$5.3 million.
The lawsuit was filed by Shair.Com Global Digital Services where they claim that they lost their money right after their company-issued laptop ‘died’. The Supreme Court of British Colombia issued a ruling directing Arnold to turn the computer over regardless of its condition. According to Arnold, he decided to invest in cryptocurrencies in late 2013 and being promoted to a most knowledgeable person in the company, he got a task to explore cryptocurrencies.
In 2014 Arnold told his employer that he set up a Bitcoin wallet and that he backed up the company’s server. Right as the summer started the same year, the company gave Arnold US$14,000 to purchase Bitcoin that today would be worth US$172,000. This decision was brought up after Arnold hired a digital currency consultant.
According to the ruling:
“The investigation was unable to determine the current location or value of digital currencies owned by the plaintiff, but the plaintiff alleges that the [C]$18,500 in Bitcoin purchased by it in June and August 2014, if it remained in Bitcoin, would have a current value of approximately [C]$225,000,”
Regardless of leaving the company, Arnold still remains a shareholder in the company. Most interestingly, Arnold’s employer only figured it out that though Arnold left the company, the laptop given to him had not been returned and there was no digital backup of the bitcoin wallet on the company’s server as promised.
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