FTC secures Court docket approval of $1.65bn settlement with Voyager Digital

The Federal Commerce Fee (FTC) has secured Court docket’s approval of the proposed $1.65 billion settlement with Voyager Digital.

The related order, signed by Choose Gregory H. Woods of the New York Southern District Court docket, restrains the Company Defendants from promoting, advertising and marketing, selling, providing, or distributing, or aiding within the promoting, advertising and marketing, selling, providing, or distributing of any services or products that can be utilized to deposit, alternate, make investments, or withdraw property, whether or not instantly or by means of an middleman.

The order doesn’t restrain or enjoin the deposit, alternate, distribution, funding, or withdrawal of property owned or held by the Debtor Defendants and being administered in accordance with the US Chapter Code and orders of the courtroom within the Chapter Case.

Judgment within the quantity of $1,650,000,000 was entered in favor of the Fee in opposition to Company Defendants, collectively and severally, as financial aid.

Company Defendants’ legal responsibility for this judgment shall be joint and a number of other with every other Defendants to the extent subsequently ordered. The suspension of the judgment as to Company Defendants is expressly premised upon the truthfulness, accuracy, and completeness of Company Defendants’ sworn monetary attestations submitted to the Fee and to the Chapter Court docket.

All cash acquired by the Fee pursuant to this Order could also be deposited right into a fund administered by the Fee or its designee for use for client aid, corresponding to redress and any attendant bills for the administration of any redress fund.

Any cash not used for aid is to be deposited to the U.S. Treasury.