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Announcement

Celsius founder Alex Mashinsky faces up to $35 million in payments and a permanent crypto-industry ban

CoinDesk reports Mashinsky is serving a 12-year federal sentence after pleading guilty to securities and commodities fraud.

4m agofirst seen 4m ago

TLDR

CoinDesk reports that New York settled a civil case accusing Mashinsky of misleading Celsius customers about the safety of their deposits. Under the deal, he must pay the state $25 million if he does not forfeit $10 million in ill-gotten gains to the federal government, plus another $10 million if he does not serve his full prison sentence. He is permanently barred from the securities, commodities and cryptocurrency industries.

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3 Sources

The BlockNew York AG secures up to $35 million from former Celsius CEO Alex Mashinsky1h
New York State Attorney GeneralAttorney General James Bans Former Cryptocurrency CEO Who Defrauded Investors from Financial Industry
coindeskCelsius' Alex Mashinsky hit with $35M penalty and permanent ban in NY legal settlement41m
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    3 Sources

    The BlockNew York AG secures up to $35 million from former Celsius CEO Alex Mashinsky1h
    New York State Attorney GeneralAttorney General James Bans Former Cryptocurrency CEO Who Defrauded Investors from Financial Industry
    coindeskCelsius' Alex Mashinsky hit with $35M penalty and permanent ban in NY legal settlement41m
    Today's Rank

    #7

    Today's Rank

    #7