The U.S. Department of Justice seeks a 20-year prison sentence for the former CEO of Celsius.

GateNewsBot

2025-04-29 07:52:46

CEL-1,32%

According to the Gate.io News bot and reported by CoinDesk, the U.S. Department of Justice has submitted documents to the court recommending a 20-year prison sentence for Celsius founder and former CEO Alex Mashinsky. The documents reveal that Mashinsky is accused of orchestrating fraud that resulted in nearly $7 billion in losses for clients.

In this case, Mashinsky has admitted to making false promises to customers, falsely claiming that deposits are safe, while manipulating the price of CEL tokens for personal gain. In the filing, prosecutors noted that it was a well-planned case of fraud that caused significant losses to customers and set a cautionary tale for the cryptocurrency industry.

The sentencing for this case will take place on May 8.

View Original

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Comment

0/400

GateUser-6f149585

· 2025-04-29 09:40

Buckle up and hold on tight, we are about to To da moon 🛫

View OriginalReply0