I thought they said they sold some of the ICO bitcoin to fiat?
I see now that the 138 btc is indeed spent mostly. This is the next address after the 138 btc:
https://blockchain.info/nl/address/1GMFKbFfZN983c6ZRzxLVdXMyxBLWreHvW You can see some spent and then some added, but in the end most spent. Last spendings are still on a few addresses as you follow the spendings on the blockexplorer.
Sorry for wrong post, I thought 138 btc was still there (not reading blockexplorer of btc well). Edited my last post on this as well.
Nevertheless stay a bit more positive here and wait what Bitsend has to say.

They changed it into cash becouse Bitcoin was in down trent, most funds are avaleble they told me 4 weeks ago.