The U.S. Federal Trade Commission (FTC) announced that it has reached a settlement with bankrupt cryptocurrency company Voyager Digital, permanently banning it from handling consumer assets. The commission also filed a lawsuit against its former CEO, Stephen Ehrlich, accusing him of lying about whether customer accounts were insured by the Federal Deposit Insurance Corporation, even as the company ultimately teetered on the brink of bankruptcy. Ehrlich has not yet agreed to a settlement with the FTC, so it is targeting His case will be heard in federal court.
The U.S. Commodity Futures Trading Commission (CFTC) charged Stephen Ehrlich with conducting a massive commodities pool fraud scheme in a parallel action.
