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Celsius Network Founder Alex Mashinsky Sentenced to 12 Years for Crypto Fraud
Celsius Network Founder Alex Mashinsky Sentenced to 12 Years for Crypto Fraud
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Alex Mashinsky, the founder of Celsius Network, has been sentenced to 12 years in prison for defrauding hundreds of thousands of investors. The collapsed crypto lending platform promised high returns but ultimately wiped out over $7 billion in value.
Prosecutors had pushed for a 20-year sentence, citing Mashinsky’s deliberate fraud and lack of remorse. The disgraced founder, however, sought only a year-long sentence. The court’s final judgment included charges of commodity and securities fraud.
Mashinsky pleaded guilty in December 2024, leaving the sentencing determination to the court. The 12-year term represents a middle ground between the prosecution’s demands and the defendant’s requests.
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