A Voyager creditor and finance lawyer wants to see a chapter 11 trustee appointed in crypto brokerage Voyager Digital’s bankruptcy trial, which would see Voyager lose control of its estate.
In a Feb. 1 motion, Voyager creditor Michelle DiVita accused Voyager of having a “history of financial statement inaccuracies and public misrepresentations that were known, or reasonably discoverable, at the beginning of the bankruptcy proceeding.”
Due to this pre-bankruptcy conduct, DiVita believes that an examiner or trustee should have been requested, and is now doing so herself.
The filing alleges that Voyager “concealed the true nature of its lending activities by publishing financial reports that materially understated its loan positions by more than $1 billion USD.”
@investvoyager loans disclosed on March 31 financial report: $2.2B.
Actual loans on April 3: $3.1B
$1.1B concealed in one business day.
Releases are unconscionable @VoyagerUCC @DOJCrimDiv #VGX pic.twitter.com/dP8g9yvY48
— Michelle DiVita (@ChelleDiVita) January 13, 2023
A former director and CIO for Voyager, Shigo Lavine, highlighted some of the key accusations made in the filing in a lengthy Feb. 1 twitter thread.
For example, Voyager allegedly underreported a loan to crypto hedge fund…
