The Federal Trade Commission (FTC) has secured Court approval for its proposed $1.65 billion settlement with Voyager Digital.
The injunction, signed by Judge Gregory H. Woods of the Southern District Court of New York, prohibits the Corporate Defendants from advertising, marketing, promoting, offering or distributing or assisting in advertising, marketing, promoting, offer or distribute any product or service that can be used to deposit, exchange, invest or withdraw assets, either directly or through an intermediary.
The order does not limit or compel the deposit, exchange, distribution, investment, or withdrawal of assets owned or held by the debtor defendants and managed in accordance with the United States Bankruptcy Code and the orders of the Bankruptcy court.
Judgment in the amount of $1,650,000,000 was entered in favor of the Commission against the defendant corporations, jointly and severally, as monetary relief.
The liability of the Corporate Defendants for this judgment shall be joint and several with any other Defendants to the extent hereafter ordered. The stay of judgment as to the Corporate Defendants is expressly based on the truth, accuracy and completeness of the Corporate Defendants’ financial affidavits filed with the Commission and the Bankruptcy Court.
All moneys received by the Commission pursuant to this Order may be deposited in a fund administered by the Commission or its designee to be used for consumer relief such as redress and any costs incurred in administering any redress fund.
Any money not used for relief must be deposited in the US Treasury.