Feed: Slashdot
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Title: Celsius CEO Mashinsky Sentenced To 12 Years in Multi-Billion-Dollar
Crypto Fraud Case

Link: https://yro.slashdot.org/story/25/05/09/01242...

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.

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