The founder and former CEO of bankrupt cryptocurrency trading platform Celsius, Alexander Mashinsky, was sentenced Thursday to 12 years in prison on fraud charges.
Mashinsky, 50, pleaded guilty last December to securities fraud in a deal that reduced the level of charges he faced.
The sentence comes down nearly three years after the startup’s collapse as a cryptocurrency platform, which offered customers the ability to invest in digital currencies, including its own coin, CEL.
According to the indictment, Celsius executives took more than $4 billion in customers’ assets to finance the platform’s operations,…
