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Founder of Cryptocurrency Lender 'Celsius Network' Pleads Guilty to Fraud
59-year-old Alex Mashinsky, the founder/former CEO of cryptocurrency lender Celsius Network, "pleaded guilty on Tuesday to two counts of fraud," reports Reuters. He'd been indicted in July on seven counts of fraud, conspiracy and market manipulation charges, according to the article, and federal p...
On Tuesday, during a hearing before U.S. District Judge John Koeltl, Mashinsky said he pleaded guilty to two out of the seven counts he was initially charged with: commodities fraud, and a fraudulent scheme to manipulate the price of CEL, Celsius' in-house token. "Mashinsky made tens of millions of dollars selling his own CEL at artificially high prices, while his customers were left holding the bag when the company went bankrupt," Damian Williams, the U.S. Attorney in Manhattan, said in a statement on Tuesday... Many were initially unable to access their funds... Celsius' former chief revenue officer, Roni Cohen-Pavon, pleaded guilty in September 2023 and agreed to cooperate with prosecutors' investigation.
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