GRI

FTC Reaches Settlement with Crypto Company Voyager Digital; Charges Former Executive with Falsely Claiming Consumers’ Deposits Were Insured by FDIC

News Consumer protection English Sanctions & Fines
Date: 12th Oct, 2023 Source: Federal Trade Commission Country: USA Original Source

Brief

Summary:

The Federal Trade Commission (FTC) has filed a complaint against Voyager and its former CEO, Stephen Ehrlich, alleging that the company misled consumers into depositing over $1 billion in cryptocurrency, claiming that their accounts were insured by the Federal Deposit Insurance Corporation (FDIC). The complaint alleges that Voyager enticed consumers with promises of "safe"" deposits and representation of FDIC insurance

Enforcement We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. View Enforcement ,Search or browse the Legal Library Find legal resources and guidance to understand your business responsibilities and comply with the law. Browse legal resources Search small Search ,Take action Report an antitrust violation File adjudicative documents

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Enforcement We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. View Enforcement ,Search or browse the Legal Library Find legal resources and guidance to understand your business responsibilities and comply with the law. Browse legal resources Search small Search ,Take action Report an antitrust violation File adjudicative documents

This content is restricted.

Federal Trade Commission

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