WASHINGTON — The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order imposing permanent injunctive relief, disgorgement, and equitable relief against Tennessee resident Stephen Ehrlich, the former CEO of now-bankrupt entities Voyager Digital Ltd., Voyager Digital Holdings Inc., and Voyager Digital LLC (collectively, Voyager).
Ehrlich must pay $750,000 in disgorgement to Voyager customers via the Voyager bankruptcy liquidation procedures. Additionally, for a three-year period, the order imposes a registration ban against Ehrlich and enjoins him from managing or advising the trading for or on behalf of any third parties. The order also permanently enjoins him from violating certain anti-fraud provisions of the Commodity Exchange Act and CFTC regulations.
“This resolution once again highlights the CFTC’s important role in the digital asset space,” said Charles Marvine, Acting Chief of the Division of Enforcement’s Retail Fraud and General Enforcement Task Force. “Compensating victims and limiting a defendant’s ability to cause future harm are squarely within the CFTC’s core mission.”
Case Background
The consent order stems from a CFTC complaint filed against Ehrlich in October 2023. [See CFTC Press Release No. 8805-23].
The CFTC acknowledges and appreciates the cooperation and assistance of the Federal Trade Commission.
The Division of Enforcement staff responsible for this case are Alan Simpson, Anthony Biagioli, Stephen Turley, Rachel Hayes, Christopher Reed, and Charles Marvine.