The founder of the cryptographic platform collapsed Celsius was sentenced to 12 years behind bars.
Alexander Mashinsky was initially arrested in July 2023 for violation of the securities law by the American Securities and Exchange commission (SEC).
In December 2024, he argued guilty of cryptographic fraud of several billion dollars. The Ministry of Justice (DoJ) said that Mashinsky falsely represented Celsius as a safe and secure platform and exaggerated its profitability potential, considerably inflating its user base.
After the lawyers of Mashinky asked for an indulgent sentence of a year earlier this week, the former CEO of Celsius received a A 12 -year sentence Yesterday, by the courts, according to a press release from the office of an American lawyer.
Said American lawyer Jay Clayton in a press release:
“”Alexander Mashinsky has targeted retail investors with promises he would keep their “digital assets” safer than a bank, when he actually used these assets to place risky bets and to align his own pockets.
In the end, Mashinsky won tens of millions of dollars while its customers have lost billions. American investors deserve better. The case of tokenization and the use of digital assets is solid, but it is not a license to deceive. The rules against fraud still apply, and the SDNY (South District of New York) will hold those who will flour them responsible for their crimes. »»
According to Reuters, Mashinky's representatives have not yet commented on the decision.
Follow us X,, Facebook And Telegram
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Star image: Shutterstock / Zeber
