Ash Balanian’s investors were told he was a NASA scientist, had a degree from Harvard and their investments would be safe. The Federal Court has since heard that it’s likely that none of those things are true.
Cryptocurrency investment manager Ashod “Ash” Balanian’s investors were told he was a “NASA command controller and mission planner”, had a degree from Harvard and their investments in his Digital Commodity Assets fund, estimated at $50 million, would be safe.Ashod ‘Ash’ Balanian arrives at court on Friday with his lawyer and a laptop computer that is hoped will finally crack open a locked device storing $50 million of cryptocurrency.
Balanian has already agreed under examination that a memorandum for the fund given, which described him as a NASA command controller and NASA engineer, was incorrect. He had instead worked for a company that had a large contract with NASA for the Chandra X-ray observatory program. He also told the court he was an alum of Northeastern University in Boston, rather than Harvard, as claimed in the memorandum.
“You say that computer, as built now in its present format, is the safest way to update the firmware?” O’Neill asked Balanian.O’Neill asked again: “And, just to confirm … the assets should otherwise turn up on the Trezor device, correct?” In a note to creditors on August 16, the liquidators wrote: “We have previously indicated to investors that, in our opinion the concept of a ‘smart contract’ delivering the funds is implausible and not supported by any evidence available to us, including what we saw on the laptop available to Mr Balanian where having inserted the Trezor device into the laptop, no digital assets were forthcoming.”
“It is estimated that original investor capital under management of $13 million has increased in the fund to approximately $40 million,” he said, indicating a reduction in value in the assets held on the device.“To date, the receivers and their legal representatives have failed to do so. I am disappointed that rather than focusing on returning the assets to investors the receivers and their legal representatives continue to needlessly draw out this process at the expense of investors.
They told clients that Balanian had “given evidence that assists him, is inconsistent and unhelpful”.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The ‘NASA command controller’ and the $50 million of lost cryptoAsh Balanian’s investors were told he was a NASA scientist, had a degree from Harvard and their investments would be safe. The Federal Court has since heard that it’s likely that none of those things are true.
Read more »
The ‘NASA command controller’ and the $50 million of lost cryptoAsh Balanian’s investors were told he was a NASA scientist, had a degree from Harvard and their investments would be safe. The Federal Court has since heard that it’s likely that none of those things are true.
Read more »
Crew 'well aware they were going to die' before Titan submersible implodedOne of the victim&x27;s families has launched a $50 million lawsuit against Oceangate.
Read more »
Russian court jails US-Russian woman for 12 years over $50 charity donationKsenia Khavana jailed for treason over donation to US charity that helps Ukraine
Read more »
Bank of Queensland to axe 400 jobs, convert retail branches to simplify, digitise operationsThe redundancies are expected to save the business $50 million annually.
Read more »
Australian decathlete Ash Moloney pulls out of Paris Olympics with an adductor injuryAsh Moloney pulls out of the Paris Olympics decathlon after three events due to an adductor injury.
Read more »