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Celsius CEO Mashinsky Sentenced To 12 Years in Multi-Billion-Dollar Crypto Fraud Case
Alexander Mashinsky, the former CEO of Celsius Network, was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud, a dramatic fall for the leader of a company once hailed as the "bank" of the crypto industry. From a report: Standing before U.S. District Judge John G. Koeltl in Manhattan's Southern District, Mashinsky faced the consequences of what prosecutors described as a sweeping scheme to defraud investors. In December he pleaded guilty to commodities fraud and a scheme to manipulate the Celsius token. His sentencing took place in courtroom 14A at 500 Pearl Street -- a venue that has seen several crypto executives-turned-felons. Mashinsky's legal troubles began in 2023 when he was arrested on charges of securities, commodities, and wire fraud, just as Celsius reached a $4.7 billion settlement with the Federal Trade Commission -- one of the largest in the FTC's history. Read more of this story at Slashdot.
Alexander Mashinsky, the former CEO of Celsius Network, was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud, a dramatic fall for the leader of a company once hailed as the "bank" of the crypto industry. From a report: Standing before U.S. District Judge John G. Koeltl in Manhattan's Southern District, Mashinsky faced the consequences of what prosecutors described as a sweeping scheme to defraud investors. In December he pleaded guilty to commodities fraud and a scheme to manipulate the Celsius token.
His sentencing took place in courtroom 14A at 500 Pearl Street -- a venue that has seen several crypto executives-turned-felons. Mashinsky's legal troubles began in 2023 when he was arrested on charges of securities, commodities, and wire fraud, just as Celsius reached a $4.7 billion settlement with the Federal Trade Commission -- one of the largest in the FTC's history.
Read more of this story at Slashdot.
