Overview
- British Columbia’s Supreme Court granted a civil forfeiture after Michael Patryn did not defend the case, vesting the seized assets in the province.
- The haul includes 45 gold bars, luxury watches, jewelry, and more than $250,000 in cash found in a CIBC safety deposit box and related account during an RCMP probe.
- Authorities invoked an Unexplained Wealth Order in March 2024 to seize the goods and require Patryn to explain their origin, which he initially challenged on constitutional grounds before withdrawing his response.
- The province says it will move to liquidate the assets and separately review whether proceeds can be directed to QuadrigaCX creditors, who recovered about 13 cents on the dollar in 2023.
- Court filings cite allegations that customer funds were misused at QuadrigaCX, note Patryn’s multiple aliases and prior U.S. conviction, and list his last known location as Thailand.