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Former Celsius CEO Mashinsky Faces Sentencing Battle Over 20-Year Prison Request
Former Celsius CEO Mashinsky Faces Sentencing Battle Over 20-Year Prison Request
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Alex Mashinsky, co-founder of collapsed crypto lender Celsius Network, is contesting federal prosecutors’ push for a 20-year prison term. The disgraced executive, who pleaded guilty to fraud charges last December, claims the DOJ’s sentencing memorandum is ’venom-laced’ and seeks no more than 366 days incarceration.
The case stems from Mashinsky’s admission of earning $48 million through premature CEL token sales before Celsius’ 2022 collapse. Prosecutors argue his actions constituted deliberate market manipulation rather than accidental misconduct. The sentencing hearing is set for May 8 in New York.
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