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Celsius Founder Mashinsky Sentenced to 12 Years for Crypto Fraud Scheme
Alex Mashinsky, the Celsius founder, was sentenced to 12 years in prison for a scheme that unraveled billions in investor funds and trust, Bloomberg reported. Mashinsky, once a vocal promoter of Celsius Network’s sky-high returns, will now spend over a decade behind bars after admitting to defrauding hundreds of thousands of customers. On Thursday, US District Judge John Koeltl sentenced the 59-year-old former executive to 12 years in prison after he pled guilty to securities and commodities fraud charges in December. The sentence follows the dramatic collapse of Celsius Network in 2022, when revelations surfaced ... (full story)
