DOJ Recommends 20-Year Prison Sentence for Celsius Founder Mashinsky
- DOJ says Mashinsky caused nearly $7 billion in losses through fraud.
- He allegedly misled customers and profited from CEL token sales.
- Prosecutors demand a harsh sentence to deter future crypto misconduct.
Federal prosecutors have asked a U.S. court to sentence Alex Mashinsky, the founder of Celsius Network, to 20 years in prison. The DOJ claims he orchestrated a massive fraud that misled thousands of investors and resulted in billions of dollars in losses. The sentencing request follows Mashinsky’s December guilty plea to multiple fraud-related charges.
Deliberate Fraud, Not Negligence
In a sentencing memo filed late yesterday, the Department of Justice accused Mashinsky of executing a calculated scheme to enrich himself at the expense of Celsius customers. The DOJ said his crimes were not the result of mismanagement or market downturns, but “deliberate, calculated decisions to lie, deceive, and steal.”
Related: Celsius Founder Joins SBF, Do Kwon in Lineup of Prosecuted Crypto Founders
Mashinsky was charged with misrepresenting the safety of customer deposits and artificially inflating the price of Celsius’s native token, CEL. Despite promisi…
The post DOJ Recommends 20-Year Prison Sentence for Celsius Founder Mashinsky appeared first on Coin Edition.
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DOJ Recommends 20-Year Prison Sentence for Celsius Founder Mashinsky
- DOJ says Mashinsky caused nearly $7 billion in losses through fraud.
- He allegedly misled customers and profited from CEL token sales.
- Prosecutors demand a harsh sentence to deter future crypto misconduct.
Federal prosecutors have asked a U.S. court to sentence Alex Mashinsky, the founder of Celsius Network, to 20 years in prison. The DOJ claims he orchestrated a massive fraud that misled thousands of investors and resulted in billions of dollars in losses. The sentencing request follows Mashinsky’s December guilty plea to multiple fraud-related charges.
Deliberate Fraud, Not Negligence
In a sentencing memo filed late yesterday, the Department of Justice accused Mashinsky of executing a calculated scheme to enrich himself at the expense of Celsius customers. The DOJ said his crimes were not the result of mismanagement or market downturns, but “deliberate, calculated decisions to lie, deceive, and steal.”
Related: Celsius Founder Joins SBF, Do Kwon in Lineup of Prosecuted Crypto Founders
Mashinsky was charged with misrepresenting the safety of customer deposits and artificially inflating the price of Celsius’s native token, CEL. Despite promisi…
The post DOJ Recommends 20-Year Prison Sentence for Celsius Founder Mashinsky appeared first on Coin Edition.
Read More
Ethereum Whales Add 1.4 Million ETH as Price Breaks Major Resistance, Nears $3,000