Ex-Celsius CEO Mashinsky gets 12-year sentence for crypto fraud
Alexander Mashinsky, the former CEO of crypto firm Celsius Network, has been sentenced to 12 years in prison for commodities fraud and securities fraud.
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Mashinsky pled guilty in December over his part in a scheme to defraud investors.
Celsius operated a crypto asset platform offering customers “rewards” on deposited assets, secured loans, and custody services. Marketing itself as the “safest place for your crypto,” the firm encouraged customers to “unbank” themselves by transferring crypto assets to its platform.
By late 2021, Celsius had become one of the largest crypto platforms…
