The Commodity Futures Buying and selling Fee (CTFC) is reportedly considering taking enforcement motion in opposition to the co-founder of a bankrupt crypto lender.
In line with a brand new report by Bloomberg, the CTFC is contemplating charging Stephen Ehrlich, the ex-chief government of Voyager, of deceptive prospects concerning the security of their belongings after launching an investigation into the troubled agency.
Nameless sources acquainted with the difficulty informed Bloomberg that CTFC commissioners are at the moment voting on whether or not or to not take enforcement actions in opposition to Ehrlich throughout the subsequent few days.
Nevertheless, the report notes that Ehrlich has not but formally been accused of any wrongdoing, additionally including that the CFTC can solely file civil expenses.
In an electronic mail to Bloomberg, Ehrlich – who was the CEO of Voyager when it filed for chapter in July 2022 – stated that he was “angered and perplexed” by the CFTC’s doable enforcement actions, calling them unfounded.
As additional acknowledged by Ehrlich within the electronic mail,
“Day in and day trip, Voyager labored carefully with the related regulators. These allegations look like a kind of instances the place the referees are making new guidelines and calling foul after the sport has ended. I look ahead to being vindicated in court docket.”
In August, blockchain tracker Lookonchain discovered that Voyager had been promoting belongings on high US-based crypto change Coinbase and obtained about $85 million price of the stablecoin USD Coin (USDC).
Voyager went bankrupt in 2022 after Three Arrows Capital (3AC), one other crypto lending agency, didn’t pay again a mortgage price tons of of thousands and thousands of {dollars}.
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