Former CEO of crypto savings platform Celsius arrested - SEC lawsuit filed
Alex Mashinsky, the former CEO of failed crypto savings platform Celsius, was arrested on July 13. The US Securities and Exchange Commission (SEC) has filed a lawsuit against the crypto company, and the arrest of the former Celsius boss follows investigations into the company. In particular, the US Department of Justice is bringing charges such as fraud and market manipulation against Mashinsky. According to Bloomberg, citing internal sources, the crypto company's investigation revealed serious violations of laws and regulations. Mashinsky is accused of violating several US regulations before the company collapsed in 2022. The investigation into the former Celsius CEO began after the New York Attorney General's Office sued Mashinsky in January. The lawsuit...

Former CEO of crypto savings platform Celsius arrested - SEC lawsuit filed
Alex Mashinsky, the former CEO of failed crypto savings platform Celsius, was arrested on July 13. The US Securities and Exchange Commission (SEC) has filed a lawsuit against the crypto company, and the arrest of the former Celsius boss follows investigations into the company. In particular, the US Department of Justice is bringing charges such as fraud and market manipulation against Mashinsky.
According to Bloomberg, citing internal sources, the crypto company's investigation revealed serious violations of laws and regulations. Mashinsky is accused of violating several US regulations before the company collapsed in 2022.
The investigation into the former Celsius CEO began after the New York Attorney General's Office sued Mashinsky in January. The lawsuit alleges that the former CEO knowingly misled investors and caused billions of dollars in losses.
In June last year, Celsius ran into trouble when the crypto lender suddenly stopped withdrawals on the platform. Subsequently, securities regulators from five different US states opened an investigation into the company, and within a month the platform filed for bankruptcy.
Alex Mashinsky is expected to face a lengthy prison sentence if he is convicted.