Former Celsius CEO Alex Mashinsky Reportedly Arrested
The US SEC filed a lawsuit against the bankrupt crypto lender on July 13, followed by reports of the arrest of former CEO Alex Mashinsky.< /p>
Former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news came minutes after the US Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day. .
The former CEO has reportedly been arrested after an investigation into the company's collapse, Bloomberg reported citing people familiar with the matter. The US Department of Justice has indicted Mashinsky for fraud and intent to manipulate the market.
UPDATE: According to the DOJ indictment, legal minds expect Alex Mashinsky to face a lengthy prison sentence.
“These (DOJ) charges and the magnitude of the capital involved means he has no meaningful path to a plea; looking at 15-20 years.”
Securities Fraud, Wire Fraud, Conspiracy:…
— Andrew (@AP_Abacus) July 13, 2023Celsius Network filed for bankruptcy on July 14 last year. Mashinsky was recently found guilty by investigators from the Commodity Futures Trading Commission, who concluded that the former CEO violated numerous US regulations before the company implosed...
The US SEC filed a lawsuit against the bankrupt crypto lender on July 13, followed by reports of the arrest of former CEO Alex Mashinsky.< /p>
Former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news came minutes after the US Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day. .
The former CEO has reportedly been arrested after an investigation into the company's collapse, Bloomberg reported citing people familiar with the matter. The US Department of Justice has indicted Mashinsky for fraud and intent to manipulate the market.
UPDATE: According to the DOJ indictment, legal minds expect Alex Mashinsky to face a lengthy prison sentence.
“These (DOJ) charges and the magnitude of the capital involved means he has no meaningful path to a plea; looking at 15-20 years.”
Securities Fraud, Wire Fraud, Conspiracy:…
— Andrew (@AP_Abacus) July 13, 2023Celsius Network filed for bankruptcy on July 14 last year. Mashinsky was recently found guilty by investigators from the Commodity Futures Trading Commission, who concluded that the former CEO violated numerous US regulations before the company implosed...
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