Stephen Ehrlich
Co-founder and CEO of the collapsed crypto lender Voyager Digital. In 2023 the CFTC and FTC sued him for fraud — alleging he falsely marketed Voyager as a 'safe haven' with FDIC-insured deposits. He settled in 2025 (civil), accepting bans and payments.
Also known as: Stephen Ehrlich
Note: Ehrlich faced civil (not criminal) charges and settled without the criminal findings seen in some other cases.
Bio
Stephen Ehrlich co-founded and led Voyager Digital, a crypto lending/trading platform that collapsed into bankruptcy in 2022 owing customers more than $1.7 billion. The CFTC alleged he fraudulently touted Voyager as a "safe haven" earning high yields while taking undisclosed, excessive risks with customer assets; the FTC alleged he falsely claimed customer accounts were FDIC-insured and "safe." [1][2]
Status
The CFTC and FTC filed parallel civil actions in October 2023. In 2025 Ehrlich settled — the FTC settlement included a $2.8 million payment and a permanent ban from marketing or selling retail crypto products, and the CFTC obtained disgorgement and a registration ban. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Donald BasileIndividualsFounder behind Bitcoin Latinum (LTNM). The SEC charged him in 2026 with defrauding investors of ~$16M by falsely claiming the token was insured and asset-backed, and misappropriating funds for personal use (including a $160,000 horse).
- Kristoffer KrohnIndividualsA promoter (and SEC recidivist) who sold Green United's 'Green Boxes,' allegedly acting as an unregistered broker and misrepresenting GREEN's value and returns. Charged by the SEC for fraud and registration violations.
- John WiseIndividualsFounder and CEO of Loci, which ran the LOCIcoin ICO. The SEC charged him with fraud for false claims about Loci's revenue, staff, and user base (raising $7.6M) and for misusing $38K of investor funds; he settled with an officer/director bar.
This page was last updated on Jun 8, 2026. View revision history.