Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence
Alexander Mashinsky, former CEO of Celsius, received a 12-year prison sentence after pleading guilty to commodities fraud and manipulation of the Celsius token. The sentencing occurred in Manhattan, where prosecutors described his actions as a broad scheme to defraud investors. Mashinsky's legal issues began in 2023 with his arrest on multiple fraud counts, coinciding with Celsius's $4.7 billion settlement with the FTC, contingent on returning customer assets amid bankruptcy proceedings. Prosecutors claimed he misled investors about the safety of Celsius's platform while liquidating personal holdings. His guilty plea concluded a lengthy legal process, part of a wider crackdown on cryptocurrency fraud involving other notable figures in the sector.
