2 years ago
Following Voyager Digital’s exertion for bankruptcy extortion during the archetypal week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board contiguous issued a associated missive to the institution demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s missive explains that Voyager’s FDIC claims are mendacious and misleading, and the entity prohibits anyone from “representing oregon implying that an uninsured deposit is insured.”
FDIC Insists Voyager Digital Published Misleading and False Federal Deposit Claims
On July 28, 2022, the Federal Reserve Board and FDIC issued a letter to the publicly-listed institution Voyager Digital Ltd. (TSE: VOYG). The missive claims the bankrupt Voyager misled investors with claims concerning FDIC deposit security and the institution is accused of violating the Federal Deposit Insurance Act.
“The FDIC and the Board of Governors of the Federal Reserve System person crushed to judge that Voyager Digital, LLC, and its related-entities, by and done their officers, directors, and employees person made mendacious and misleading statements, straight oregon by implication, concerning Voyager’s deposit security status, successful usurpation of 12 U.S.C. § 1828(a)(4),” the letter sent to Voyager details.
The FDIC details that Voyager made mendacious and misleading statements connected the website, mobile application, and societal media that suggested “Voyager itself is FDIC-insured,” “customers who invested with the Voyager cryptocurrency level would person FDIC security coverage,” and the “FDIC would insure customers against the nonaccomplishment of Voyager itself.” The FDIC missive to Voyager highlights that these claims are false. The missive states:
These representations are mendacious and misleading and, based connected the accusation we person to date, it appears that the representations apt misled and were relied upon by customers who placed their funds with Voyager and bash not person contiguous entree to their funds.
Voyager is present mandated to remedy the contented by removing immoderate mendacious statements suggesting successful immoderate signifier that Voyager is insured by the FDIC. Voyager has 2 concern days to comply with the government’s request. If Voyager thinks the FDIC’s claims are inaccurate, the institution tin effort to beryllium it via provided accusation and documentation.
The FDIC wants a “prompt response” oregon it volition person to instrumentality “further action, arsenic appropriate, with respect to the foregoing oregon immoderate different violations of instrumentality oregon regulation, oregon unsafe oregon unsound banking practice.”
What bash you deliberation astir the FDIC missive to Voyager Digital that claims the institution made mendacious and misleading statements that accidental Voyager was FDIC insured? Let america cognize what you deliberation astir this taxable successful the comments conception below.
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