Former Voyager CEO responds to prosecution by US government: I am a scapegoat

Odaily Planet Daily reported that in response to the lawsuit filed against it by U.S. regulators, Stephen Ehrlich, former CEO and co-founder of Voyager Digital, responded: "The lawsuit filed by the U.S. government makes me both angry and deeply frustrated. I am deeply concerned about Voyager's customers and Creditors are deeply troubled by the losses they have suffered as a result of the actions of others in the crypto industry. I am currently reviewing the government’s lawsuit, but it is clear that I am being used as a scapegoat for the bad behavior of others.” (CryptoNews) Earlier news, the U.S. Commodity Futures Trading Commission (CFTC) voted to prosecute Voyager co-founder Stephen Ehrlich, accusing him of violating derivatives regulations and misleading users about the safety of their assets. In addition, the U.S. Federal Trade Commission (FTC) announced that it has reached a settlement with Voyager Digital, permanently banning it from handling consumer assets. The FTC’s proposed settlement with Voyager and its affiliates would permanently prohibit the companies from offering, marketing or promoting any products or services that can be used to deposit, exchange, invest or withdraw any assets. The companies also agreed to a $1.65 billion judgment, which will be stayed to allow Voyager to return remaining assets to consumers during bankruptcy proceedings. The FTC said Voyager and its former CEO Stephen Ehrlich misled consumers, who lost more than $1 billion in cryptocurrency after the company collapsed. The FTC filed a lawsuit against Stephen Ehrlich, alleging that he falsely represented that customer accounts were insured by the Federal Deposit Insurance Corporation (FDIC) and were "safe." Ehrlich has not yet agreed to a settlement with the FTC, so the case against him will be heard in federal court.