US EditionCelsius founder Alex Mashinsky sentenced to 12 years in prison
- On May 8, 2025, Alex Mashinsky, the founder and ex-CEO of Celsius Network, received a 12-year prison sentence in a federal court in Manhattan.
- In December 2024, Mashinsky admitted guilt to securities and commodities fraud after prosecutors charged him with deceiving investors and running a large-scale fraud involving billions of dollars.
- Celsius Network, a Hoboken, New Jersey-based crypto lender founded in 2017, collapsed in 2022 with a $1.2 billion balance sheet deficit, leaving thousands of customers with huge losses.
- U.S. District Judge John Koeltl described Mashinsky’s offenses as highly serious, highlighting that he profited by over $45 million while many investors experienced devastating financial losses and significant emotional distress.
- Mashinsky’s 12-year sentence highlights the legal accountability for deceptive practices in crypto after the 2022 market collapse and underscores ongoing regulatory enforcement.
115 Articles
115 Articles
Cryptocurrency platform | Ex-Celsius boss sentenced to 12 years in prison for fraud
The founder and former boss of the Celsius cryptocurrency platform, Alexander Mashinsky, was sentenced on Thursday to 12 years in prison for fraud by a federal judge in Manhattan, almost three years after the implosion of this start-up that had blocked the assets of its customers.
Founder of crypto lender Celsius sentenced to 12 years in prison
The founder and former CEO of the cryptocurrency lending platform Celsius Network has been sentenced to 12 years in prison after a prosecutor labeled him a predator who “preyed on hope” by enticing vulnerable customers to risk their life savings for a supposedly safe investment.
Celsius Network founder sentenced to 12 years in prison
The founder and former CEO of the cryptocurrency lending platform Celsius Network was sentenced Thursday to 12 years in prison after a prosecutor labeled him a predator who “preyed on hope” by enticing vulnerable customers to risk their life savings for a supposedly safe investment. Alexander Mashinsky, 59, was sentenced by U.S. District Judge John G. Koeltl, who said a substantial term in prison was necessary for someone who engaged in “extreme…
Former Celsius platform boss sentenced to 12 years in prison for fraud
The founder and former boss of the Celsius cryptocurrency platform, Alexander Mashinsky, was sentenced on Thursday to 12 years in prison for fraud by a federal judge in Manhattan, almost three years after the implosion of this startup that had blocked the assets of its clients. ...
Cryptocurrencies: Alexander Mashinsky, former CEO of the Celsius platform, sentenced to 12 years in prison for fraud in the United States
The company offered its customers to invest their cryptocurrency in exchange for interest, but its managers punctuated more than $4 billion in these assets to finance the company's operations, make high-risk investments and unsecured loans.
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