Rome, 9 May (LaPresse) – Alexander Mashinsky, the former CEO of Celsius Network – once hailed as the “bank” of the cryptocurrency industry – was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud. Prosecutors accused Mashinsky of misleading investors about the safety and profitability of the yield-generating Celsius platform while secretly selling tens of millions of dollars in personal holdings. Although he initially denied wrongdoing, his guilty plea and Thursday's sentence mark the final chapter in a years-long case that also drew on allegations from the Securities and Exchange Commission and the Commodity Futures Trading Commission, which accused Celsius and Mashinsky of orchestrating a multi-billion-dollar fraud scheme.
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