The U.S. Commodity Futures Trading Commission (CFTC) announced a lawsuit in the U.S. District Court for the Southern District of New York against Tennessee resident Stephen Ehrlich, co-founder and former CEO of now-bankrupt entity Voyager Digital. The complaint alleges Ehrlich committed fraud and failed registration in connection with the operation of the Voyager digital asset platform and the Voyager unregistered commodity pool. Ehrlich and Voyager falsely touted the Voyager platform as a “safe haven” to earn high-yielding returns to induce customers to purchase and store digital asset commodities.
In its lawsuit against Ehrlich, the CFTC seeks damages, disgorgement of disgorgement, civil penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations.
