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DOJ Seeks 20-Year Sentence for Celsius Founder Alex Mashinsky
DOJ Seeks 20-Year Sentence for Celsius Founder Alex Mashinsky
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Prosecutors have requested a 20-year prison sentence for Celsius Network founder Alex Mashinsky, citing a "years-long campaign of lies and self-dealing" that resulted in billions in losses for customers. The filing alleges Mashinsky misrepresented Celsius’s handling of customer deposits, fabricated profitability, and exposed funds to high-risk, uncollateralized loans.
Investors who lost savings in Celsius’s collapse are demanding even harsher penalties, with some calling for a life sentence. Mashinsky has pled guilty to two of seven fraud counts as the case highlights ongoing regulatory scrutiny of crypto lending platforms.
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