Former Celsius CEO sentenced to 12 years in prison for encryption fraud, with the judge ordering him to report to prison by September 12 at the latest.

2025-05-09 00:37:54

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According to ChainCatcher news and Inner City Press reports, former CEO of the crypto assets lending platform Celsius, Alex Mashinsky, has been sentenced to 12 years in prison for cryptocurrency-related fraud. The judge has ordered him to surrender to prison no later than September 12. Mashinsky (59) had previously pleaded guilty to two charges of commodity fraud and a fraudulent scheme to manipulate the price of the company’s native coin (CEL). Prosecutors stated that he orchestrated one of the largest frauds in the crypto assets industry and had suggested a 20-year prison sentence.

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