Cryptocurrency manipulated
Celsius founder pleads partially guilty
In the billion-dollar fraud trial against the founder of the insolvent crypto bank Celsius Network, the defendant has pleaded partially guilty. On Tuesday, Alex Mashinsky admitted to commodities fraud and the manipulation of the company's own cryptocurrency CEL.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen In an interview in 2021, he falsely claimed that the US authorities had approved the "Earn" savings program. As part of this program, Celsius had promised customers interest rates of up to 17 percent. "I know what I did was wrong," said Mashinsky. "I want to try to do everything I can to make up for it."
As part of his plea deal with prosecutors, the Celsius founder agreed not to appeal a sentence of 30 years in prison or less. This is the maximum sentence for the offenses to which he has pleaded guilty.
The prosecution had originally accused him of further offenses. Among other things, he is alleged to have pocketed millions. Celsius filed for insolvency in the summer of 2022 after mass withdrawals of customer funds. The founder of the insolvent crypto exchange FTX, Sam Bankman-Fried, was sentenced to 25 years in prison in a similar trial in the spring.
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