Former Voyager Digital CEO Sued by CFTC for Alleged Fraud and Registration Failures
Summary:
The US Commodity Futures Trading Commission (CFTC) has sued former Voyager Digital CEO Stephen Ehrlich, alleging fraud and registration failures relating to an "unregistered commodity pool". The CFTC plans to seek restitution, disgorgement, civil penalties, and permanent trading and registration bans. The authority claims Voyager was falsely marketed as a 'safe haven' for high returns. More details will follow in this ongoing story.
The US regulatory authority for commodity futures and options trading, the Commodity Futures Trading Commission (CFTC), has lodged a court case against Stephen Ehrlich, former Chief Executive Officer of cryptocurrency lending entity, Voyager Digital. The complaint was submitted to the US District Court of the Southern District of New York on October 12, accusing Ehrlich and his company of fraudulent claims and failure to correctly register with regard to the entity's "unregistered commodity pool." The regulatory body has expressed its intent to pursue compensation, recovery of ill-gotten gains, financial penalties, and permanent bans on trading and registration. According to the CFTC's claim, Ehrlich and Voyager promoted their platform as a 'safe haven' for high-profit returns in an attempt to convince consumers to invest and keep their digital asset commodities. More information will be included in this evolving news story as it is revealed.
Published At
10/12/2023 5:16:43 PM
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