The former CEO of lending platform Voyager, Steve Ehrlich, has been hit with lawsuits from both the Federal Trade Commission (FTC) and the United States Commodity Futures Trading Commission (CFTC) over allegations of fraudulent activities and insincerity about government customer protection.

The FTC claims that Ehrlich falsely claimed that customers' accounts were insured by the Federal Deposit Insurance Corporation (FDIC) and continued to mislead customers about the safety of their funds even when the company was approaching bankruptcy. Voyager and its affiliates have agreed to a $1.65 billion judgment and a settlement that permanently bans the companies from handling consumer assets. The CFTC is accusing Ehrlich of fraud and registration failures, stating that Voyager took "shockingly reckless risks" with user funds, eventually leading to bankruptcy.