The U.S. Commodity Futures Trading Commission (CFTC) announced that Stephen Ehrlich, co-founder and former head of the bankrupt crypto lending platform Voyager, must pay $750,000 to defrauded customers. A consent order from a New York federal court states that Ehrlich, who neither admitted nor denied the charges, was banned from commodity trading for three years and is subject to other restrictions.

Previously, in October 2023, the CFTC sued Ehrlich and Voyager, accusing them of operating a fraudulent digital asset platform and luring clients with high returns while lending billions of dollars in client assets to high-risk third parties. Stephen Ehrlich expressed anger and disappointment at the charges at the time. (Bloomberg)