Simultaneous civil lawsuits from the Commodity Futures Trading Commission (CFTC) and Federal Trade Commission (FTC) against former CEO of the collapsed Voyager crypto lender accuse him of fraud and making deceptive claims to customers.
The FTC lawsuit focuses on Voyager’s claims suggesting to customers that accounts with the lender were FDIC insured. That complaint also names Voyager as a defendant. Voyager settled with the FTC, agreeing to pay a $1.65 billion judgment that will be suspended until customers are repaid.
“CFTC Charges Former Chief Executive Officer of Digital Asset Platform with Fraud in Massive Commodity Pool Scheme”
, CFTC press release
“FTC Reaches Settlement with Crypto Company Voyager Digital; Charges Former Executive with Falsely Claiming Consumers’ Deposits Were Insured by FDIC”
, FTC press release
“CFTC and FTC sue former CEO of bankrupt crypto lender Voyager”
“Voyager Ex-CEO Charged by U.S. Regulators With Fraud, Making False Claims”
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