• Voyager Digital is being accused of misinforming the public about its financial state, and a creditor has requested a Chapter 11 trustee to take control of the firm’s estate on February 2, 2023.
• Michelle DiVita, the voyager victim and financial lawyer, believes that a trustee should have been appointed for Voyager’s bankruptcy situation.
• Financial reports from Mar. 31 showed $2.2 billion while actual loans as of Apr. 3 stand at $3.1 billion, leaving a gap of $1 billion in one day allegedly submerged in the books.
Accusation Against Voyager Digital
A voyager creditor, Michelle DiVita, is reportedly calling for a Chapter 11 trustee to seize the bankrupt firm’s estate accusing Voyager Digital of misinforming the public about the company’s financial situation including publishing inaccurate data and public misrepresentation.
Motion Filed by DiVita
Mitchelle DiVita filed a motion on Feb. 1 requesting the crippled firm’s trustee to seize Voyager’s estate alleging that Voyager hid book information from creditors including understated loans totaling $1 billion.
Missing Links Discovered By DiVita
According to her filing, reports indicate that Voyager misinformed the public through inaccurate data with financial reports on Mar. 31 showing $2.2 billion while the actual loans as of Apr. 3 stood at $3.1 billion leaving a gaping hole of about $1 billion allegedly submerged in the books in one day.
Possible Turn Around?
Shigo Lavine, former director of Voyager Digital claimed that if there are fraudulent activities hidden in the company’s financial books then this motion can bring some change in Voyager’s bankruptcy case as it was found out that they undervalued bitcoin (BTC) at market price by 546% to hide missing links to loans credited to their account by 3AC which were materially undervalued BTCs used for loan repayment reporting purpose .
Conclusion:
The future looks bleak for Voyage Digital as mounting accusations point towards their wrongdoings leading them into bankruptcy and beyond depending upon what legal action will be taken against them due to these findings including appointing trustees or fining them heavily according to law enforcement proceedings if any criminal activity is suspected or proved against them going forward