Voyager Digital: The money raised by the CEO questions the true situation of the company

Voyager Digital continues the procedures after its bankruptcy and is quite discreet. This is without counting on the discovery of old cash receipts that do not bode well for the rest of the events.

New funds misused by Voyager?

The recently bankrupt Voyager company is not in the good graces of the public. Despite Sam Bankman-Fried complaints and a proposed recovery plan, everything is going badly for the company. A new scandal risks aggravating the situation.

When Voyager started noticing some liquidity problems, the consequences were swift for its clients. Their funds were confiscated and then frozen pending improvements. A phenomenon that did not occur given the domino effect caused by Three Arrows Capital and the collapse of cryptocurrencies. Customers then waited, thinking the company was running out of money. It was nothing.

According to CNBC, the Voyager team was far from broke. His situation was difficult, of course, but money was not entirely absent. The CEO of the company, in fact, would have pocketed 31 million dollars by selling the shares of his company. If the jackpot was pocketed more than a year before Voyager went bankrupt, it was not used in customer refunds. So there remains a big question: what happened to these millions of dollars?

It could be that the sum has been integrated into the approximately $ 676 million that Voyager Digital has loaned to Three Arrows Capital. In any case, the question remains. Mismanagement of this newly discovered money only exacerbates creditors’ concerns.

Soon a result for creditors?

The discovery of subsequent mismanagement continues to punctuate business with failures. However, the joke lasted long enough for the customers of the fallen companies. In fact, creditors are increasingly turning to the courts for reimbursement of their investments.

Celsius Network’s customers then came together to initiate legal proceedings. About 300 aggrieved creditors then called in a lawyer. This should represent them and defend their interests, with the aim of closing this chapter as soon as possible. Also according to CNBC, the reasons given by the customers are, among other things, the impossibility of repaying the debts. Also listed are the inability to pay rent or severe mental health consequences for customers ruined by Voyager.

If the outcome of this case proves to be favorable, it could be that customers of other companies are involved in turn. Voyager Digital is just another victim of the cryptocurrency winter, but will then have to answer for its actions and compensate everyone whose funds it has confiscated.


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