A family was thrown into financial chaos after a husband secretly borrowed $250,000 against the family home and put it in cryptocurrency, all without his wife’s knowledge.
When she found out, she told him to sell it immediately. He promised that the money would be returned to the bank account within a few days. Instead, several days later, the money was still missing.
The issue came up during a recent call to “The Ramsey Show,” where the wife, identified as Kate, explained how Kate found out what had happened.
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When Kate pressed him for an answer, her husband admitted that he had not sold crypto. Instead, he said he “hit the bell short button instead of the sell button,” which ended the position.
The hosts didn’t mince words about how serious that explanation was.
“Selling short means he’s selling assets he doesn’t own with a loan,” the co-host said George Kamel said “It’s just a gamble, especially in the crypto world. It was already assumed, so it’s a double gamble at this point on top of the infidelity that he created by doing this behind your back.”
Kate asked the question many listeners were wondering: “Is there any way to get that money back, or is it gone for good?”
The answer was ambiguous. Because the trade involves short selling, the hosts said the end result depends on the platform, whether the position is fully closed, and whether additional liabilities still exist. But they made one thing clear: The explanation raised a red flag.
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“I don’t want to call him a liar,” the co-host said Ken Coleman Said, “But my BS meter is just singing now.” Another added that it was hard to believe someone would push the wrong button on a $250,000 transaction.
“I don’t know what’s worse,” Kamel added, “if he doesn’t know what he’s doing or if he knows what he’s doing.”
The conversation shifted away from crypto and towards trust.
Organizers said Kate’s husband went behind her back, ignored her pleas to sell and put the family on the line.
Kate revealed that her husband earns $300,000 a year and that the family owns six properties, including four rentals, a vacation home, and their primary residence, all carrying significant debt.
