US EditionProsecutors seek 20-year prison term for founder of failed crypto platform Celsius Network
- Prosecutors are seeking a 20-year prison term for Alexander Mashinsky, founder of Celsius Network, for fraud claims costing customers billions in losses.
- Mashinsky allegedly misled thousands of customers about the safety and security of their investments of over $20 billion, which led to Celsius's bankruptcy declaration in 2022.
- His guilty plea included manipulating cryptocurrency prices and lying about the company's safety, which misled customers from 2018 to 2022.
- Defense lawyers suggested a lighter sentence of one year, claiming he was not predatory and attributing Celsius's collapse to market downturns.
35 Articles
35 Articles
Associated Press News
Prosecutors seek 20-year prison term for founder of failed crypto platform Celsius Network
Prosecutors say the founder and former CEO of the failed cryptocurrency lending platform Celsius Network should face 20 years behind bars for telling lies and engaging in self-dealing that cost customers billions of dollars in losses.
DOJ calls for 20-year sentence for Celsius founder Alex Mashinsky: CNBC Crypto World
On today's episode of CNBC Crypto World, major cryptocurrencies trade higher with ether climbing more than 3% to more than $1,800. Plus, the Department of Justice is seeking a 20-year prison sentence for former Celsius CEO Alex Mashinsky. And, Chris Maurice of crypto payments firm Yellow Card discusses regulatory developments around stablecoins in the United States.
U.S. Justice Dept. Seeks 20-Year Sentence for Celsius Founder Alex Mashinsky
Alex Mashinsky, the founder and former CEO of collapsed crypto lender Celsius Network, faces the prospect of spending the next two decades behind bars if the U.S. Department of Justice's sentencing memo request is granted.In the memo filed late Monday, the DOJ urged the court to impose a 20-year prison sentence, calling the crimes a “deliberate, calculated” fraud that caused nearly $7 billion in customer losses and left thousands financially dev…
DOJ Recommends 20-Year Prison Sentence for Celsius Founder Mashinsky
DOJ says Mashinsky caused nearly $7 billion in losses through fraud. He allegedly misled customers and profited from CEL token sales. Prosecutors demand a harsh sentence to deter future crypto misconduct. Federal prosecutors have asked a U.S. court to sentence Alex Mashinsky, the founder of Celsius Network, to 20 years in prison. The DOJ claims he orchestrated a massive fraud that misled thousands of investors and resulted in billions of dollars…
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