US Federal Trade Commission Sues Bankrupt Crypto Company 'Voyager', Files Lawsuit Against CEO and Permanently Bans Company
The proposed settlement with Voyager and its affiliates will permanently ban the companies from offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets.
Washington, October 13: The US Federal Trade Commission (FTC) has announced a settlement with bankrupt crypto company Voyager that will permanently ban it from handling consumers슬롯사이트� assets. The Commission said late on Thursday it is also filing a lawsuit against its former CEO, Stephen Ehrlich, for falsely claiming that customers슬롯사이트� accounts were insured by the Federal Deposit Insurance Corporation (FDIC) and were 슬롯사이트œsafe", even as the company was approaching an eventual bankruptcy.
The complaint also named Stephen Ehrlich슬롯사이트™s wife, Francine Ehrlich, as a relief defendant. 슬롯사이트œConsumers reported over $1.4 billion in losses to cryptocurrency scams in the last year, and the FTC continues to crack down on those who lie to consumers about these risky assets,슬롯사이트� said Samuel Levine, Director of the FTC슬롯사이트™s Bureau of Consumer Protection.슬롯 머신 사이트 추천Infosys Job Hiring: Not Going to Campus for Recruitment at the Moment Says Infosys CFO Nilanjan Roy.
슬롯사이트œThis action reminds companies and individuals: don슬롯사이트™t play fast and loose with claims about FDIC insurance,슬롯사이트� he added. Voyager used promises that consumers슬롯사이트� deposits would be 슬롯사이트œsafe슬롯사이트� to entice them to hand over their funds.슬롯 머신 사이트 추천 When the company failed, consumers lost access to significant assets they had saved, including ongoing salary deposits, college tuition funds, and down payments for homes, according to the complaint.
The consumers were locked out of their cash accounts for more than a month and lost more than $1 billion in crypto assets. The proposed settlement with Voyager and its affiliates will permanently ban the companies from offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets.슬롯 머신 사이트 추천Israel-Hamas War: EU Formally Opens Investigation Into Elon Musk-Owned X Over Spreading Illegal Content and Disinformation of Ongoing War.
The companies also agreed to a judgment of $1.65 billion, which will be suspended to permit Voyager to return its remaining assets to consumers in the bankruptcy proceedings. Stephen Ehrlich has not agreed to a settlement and the FTC슬롯사이트™s case against him will proceed in federal court, said the Commission. In a parallel action, the Commodity Futures Trading Commission separately charged Ehrlich with fraud and registration failures.
(The above story first appeared on LatestLY on Oct 13, 2023 10:42 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).