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Celsius CEO Alex Mashinsky sentenced to 12 years for crypto fraud
Celsius CEO Alex Mashinsky sentenced to 12 years for crypto fraud

CEO and founder of Celsius Network Alex Mashinsky has been sentenced to 12 years in prison by a US District Court. Celsius Network held about $25 billion in assets at its height, but was one of the many cryptocurrency operations to fail during 2022. Prosecutors were seeking two decades for Mashinsky, claiming he defrauded and misled customers about the status of his company's CEL token.
"His crimes were not the product of negligence, naivete, or bad luck," the attorneys said. "They were the result of deliberate, calculated decisions to lie, deceive, and steal in pursuit of personal fortune."
After an initial not-guilty plea to seven criminal counts, the former cryptocurrency leader pled guilty to two of the fraud charges in December. As part of his plea deal, Mashinsky agreed not to appeal any sentence of 30 years or less.This article originally appeared on Engadget at https://www.engadget.com/big-tech/celsius-ceo-alex-mashinsky-sentenced-to-12-years-for-crypto-fraud-210415388.html?src=rss

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Celsius founder sentenced to 12 years in prison
Celsius founder sentenced to 12 years in prison

<img class="type:primaryImage" src="https://i.kinja-img.com/image/upload/c_fit,q_80,w_636/22674b32dc86d4b8af1492d0e62ec035.jpg"/><p>The founder of cryptocurrency lender [...]

Match Score: 142.09

Trump's federal Bitcoin reserve order leaves the crypto market unenthused
Trump's federal Bitcoin reserve order leaves the crypto market unenthused

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Match Score: 139.88

Celsius Founder Alex Mashinsky Sentenced to 12 Years in Prison
Celsius Founder Alex Mashinsky Sentenced to 12 Years in Prison

After pleading guilty to two counts of fraud, the founder of failed cryptocurrency platform Celsius will serve 12 years in federal prison. [...]

Match Score: 126.49

Nikola founder Trevor Milton receives a full pardon from President Trump
Nikola founder Trevor Milton receives a full pardon from President Trump

<p>Trevor Milton, the founder of electric truck company Nikola, has received a full and unconditional pardon from President Donald Trump. A jury <a data-i13n="cpos:1;pos:1" href=&qu [...]

Match Score: 119.56

Coinbase says Trump’s SEC has ended its enforcement case against the crypto company
Coinbase says Trump’s SEC has ended its enforcement case against the cryp

<p>Coinbase says that the SEC <a data-i13n="cpos:1;pos:1" href="https://investor.coinbase.com/financials/sec-filings/sec-filings-details/default.aspx?FilingId=18209257"> [...]

Match Score: 101.58

Celsius founder Alex Mashinsky sentenced to 12 years for “unbank yourself” scam
Celsius founder Alex Mashinsky sentenced to 12 years for “unbank yourself

Some victims lost everything to the Celsius Network's fraud. [...]

Match Score: 92.88

The SEC is dropping an investigation into Robinhood
The SEC is dropping an investigation into Robinhood

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Former MoviePass head pleads guilty to securities fraud
Former MoviePass head pleads guilty to securities fraud

<p>“A Florida man pleaded guilty today,” began a Department of Justice press release <a data-i13n="elm:context_link;elmt:doNotAffiliate;cpos:1;pos:1" class="no-affiliate-li [...]

Match Score: 78.30

Kuwait cracks down on crypto miners to cut down on electricity usage
Kuwait cracks down on crypto miners to cut down on electricity usage

<p>Kuwait is cracking down on cryptocurrency miners throughout the country, <a data-i13n="cpos:1;pos:1" href="https://www.reuters.com/business/energy/kuwait-cracks-down-cryptoc [...]

Match Score: 75.23